Daily News: September 25, 2014

Barclays Agents HealthSouth Facility Amendment

HealthSouth Corporation announced it has amended the credit agreement governing its senior secured credit facility. The amendment extends the agreement’s maturity to September 20, 2019 and adds a $150 million term loan commitment, which may be drawn any time prior to April 1, 2015. The initial term loan rate will be LIBOR plus 1.75%.

According to an 8K filing, Barclays Bank served as administrative and collateral agent. Citigroup Global Markets served as syndication agent and Bank of America, Goldman Sachs Lending Partners and Morgan Stanley Senior Funding served as co-documentation agents.

“The amendment increases the liquidity and flexibility of our senior secured credit facility,” said Doug Coltharp, executive vice president and chief financial officer of HealthSouth. “Additionally, the utilization of a portion of the new term loan commitment, together with the proceeds from the recent reopening of our 2024 senior notes, to fund the redemption of our 2018 senior notes further reduces the cost of our debt capital.”

HealthSouth is an owner and operator of inpatient rehabilitation hospitals.