LifePoint amends loan, pushing out revolver and term B maturities

By Sara Rosenberg

New York, March 1 - LifePoint Hospitals Inc. amended its credit facility, extending revolver and term loan B maturities, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Under the amendment, the $350 million revolver was extended to Dec. 15, 2012 from April 15, 2010.

Initial pricing on the extended revolver is Libor plus 250 basis points, while pricing on non-extended revolver is Libor plus 175 bps. Pricing on the extended revolver can range from Libor plus 200 bps to 275 bps and pricing on non-extended can range from Libor plus 125 bps to 225 bps, based on leverage.

The commitment fee on the extended revolver can range from 50 bps to 62.5 bps, and the fee on non-extended debt can range from 37.5 bps to 50 bps, based on leverage.

Also, about $443.8 million of the roughly $692.9 million term loan B was extended to April 15, 2015 from April 15, 2012.

Pricing on the extended term loan B is Libor plus 275 bps, while pricing on the non-extended debt is Libor plus 162.5 bps.

The amendment was completed on Feb. 26.

Citigroup and Bank of America arranged the amendment, and Citicorp is the administrative agent on the deal.

LifePoint is a Brentwood, Tenn.-based operator of general acute care hospitals in non-urban communities.

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