Medical Facilities completed a new $150 million syndicated revolving credit facility with National Bank of Canada, TD Bank and HSBC Canada.
The new U.S. dollar-denominated credit facility has a five-year maturity and replaces the company’s C$100 million ($76.643 million) facility that was due to mature at the end of 2018. Subject to the terms of the credit agreement, the new revolving credit facility may be used for acquisitions and other general corporate purposes.
“We are pleased to have obtained a much larger credit facility under favorable terms,” said Robert O. Horrar, president and CEO of Medical Facilities. “The new credit facility better supports our future growth efforts, significantly increasing our flexibility as we focus on building scale and further diversifying our portfolio through accretive acquisitions.”
Medical Facilities, in partnership with physicians, owns surgical facilities in the U.S.
