National Healthcare enters amended $75 million revolving facility

By Jennifer Chiou

New York, Oct. 26 - National HealthCare Corp. entered into on Tuesday a fourth amendment to its credit agreement with Bank of America, NA as lender, providing for a $75 million revolving facility, according to an 8-K filing with the Securities and Exchange Commission

Of the commitment amount, $5 million may be used for letters of credit.

The revolver will come due on Oct. 24, 2012, and between 90 and 120 days prior to the maturity date, National Healthcare may request a one-year extension.

Proceeds will be used for general corporate purposes, including working capital and acquisitions.

The Murfreesboro, Tenn., long-term care hospital operator is permitted to prepay the loan without penalty.

Borrowings will bear interest at Libor plus 70 basis points, and letter-of-credit fees are 0.7% times the maximum amount available to be drawn under outstanding letters of credit.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.