AmSurg amends revolver, revising leverage ratio, permitting notes sale

By Sara Rosenberg

New York, Nov. 7 - AmSurg Corp. amended its revolving credit facility on Wednesday, increasing the leverage ratio to 3.75 times from 3.25 times and allowing for the sale of $275 million of senior unsecured notes, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the amendment permits the company to incur additional senior secured debt subject to the satisfaction of the secured leverage ratio and additional unsecured debt subject to the satisfaction of the leverage ratio.

The effectiveness of the amendment is dependant on the company selling notes.

To that end, the company announced plans to issue $250 million of senior notes, with proceeds earmarked for the repayment of revolver borrowings.

AmSurg is a Nashville, Tenn.-based acquirer, developer and operator of ambulatory surgery centers in partnership with physician practice groups.

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