Computer Programs increases revolving credit facility to $50 million

By Sarah Lizee

Olympia, Wash., Feb. 14 – Computer Programs and Systems, Inc. entered into a third amendment on Feb. 8 to its existing credit agreement with Regions Bank as administrative agent to increase the principal amount of the revolving credit facility to $50 million from $45 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the principal amount of the credit facilities to $167 million from $162 million, which includes the amended revolver and a $117 million term loan facility.

Additional proceeds of the amended revolver will be used to finance the ongoing working capital requirements and other general corporate purposes of Computer Programs and its subsidiaries.

All of the other terms of the credit agreement remain unchanged.

Compass Bank is the syndication agent, Hancock Bank is the documentation agent, and Regions Capital Markets is the lead arranger and bookrunner.

Computer Programs is a Mobile, Ala.-based provider of healthcare solutions for community hospitals.

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