Alliance Healthcare Gets $70MM Commitment to Redeem Notes
Alliance HealthCare Services, a provider of outpatient diagnostic imaging and radiation therapy services, announced it has obtained commitments from lenders with respect to a $70 million incremental term loan under its existing senior secured credit agreement.
The company said it intends to use the net proceeds from the borrowings under the incremental term loan facility, together with proceeds from borrowings under its revolving credit facility and cash on hand, to redeem all of its outstanding 8% Senior Notes due 2016 in December 2013.
According to a 8-K filing dated June 3, 2013, Alliance Healthcare entered into a new senior secured credit agreement with lender group led by Credit Suisse AG, as administrative agent. The agreement encompassed a $340 million, six-year term loan, a $50 million revolver and “uncommitted” incremental loan facilities of $100 million of revolving or term loans.