Daily News: September 21, 2012

RadNet Launches Refinancing of Senior Credit Facilities


RadNet, Inc., a national provider of high-quality, cost-effective, fixed-site outpatient diagnostic imaging services through a network of 237 owned and operated outpatient imaging centers, announced that it has begun a process to refinance its existing term loan and revolving credit facility under which, as of June 30, 2012, it had approximately $338.1 million of total debt outstanding, consisting of $278.6 million of senior secured term debt and $59.5 million outstanding under its senior secured revolving credit facility.

Under the contemplated refinancing transaction, the term loan portion of this existing debt and a portion of the existing balance outstanding under the revolving credit facility would be prepaid from up to $330 million of new secured term loans. Additionally, as part of the new senior secured credit facilities, the company is targeting a new secured revolving credit facility of between $100 and $125 million.

In connection with the marketing of the proposed new senior secured term loan and revolving credit facility, RadNet releases the following reconciliation of trailing 12-month Adjusted EBITDA(1) as of June 30, 2012 (as previously reported) to trailing 12-month Pro Forma Adjusted EBITDA(1), which incorporates certain adjustments to previously reported Adjusted EBITDA(1) related to events that have taken place within the last 12 months.

Previously on abfjournal.com:

GE Healthcare Increases RadNet Credit Facilities, Tuesday, February 26, 2008