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AmSurg amends revolver, pushing back maturity and lowering pricing
By Sara Rosenberg
New York, April 12 - AmSurg Corp. amended its revolving credit facility, extending the maturity to April 16, 2016 and reducing pricing, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
Pricing on the revolver can now range from Libor plus 175 basis points to 275 bps, and the commitment fee can range from 20 bps to 50 bps, based on leverage.
As was previously reported, the company also amended its revolver to increase the size to $450 million from $375 million by exercising the accordion feature.
Borrowings under the revolver, along with available cash, will be used to fund the $173.5 million acquisition of National Surgical Care, a Dallas-based owner and operator of ambulatory surgery centers.
Closing on the transaction is expected to take place by the end of the second quarter, subject to normal conditions, regulatory approvals and clearance under the Hart-Scott-Rodino Act.
SunTrust Bank is the administrative agent on the deal.
The amendment was completed on April 6.
AmSurg is a Nashville, Tenn.-based acquirer, developer and operator of ambulatory surgery centers in partnership with physician practice groups.
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