Amedisys plans $500 million credit facility with TLC purchase

By Sara Rosenberg and Paul A. Harris

New York, Feb. 19 - Amedisys Inc. is planning on getting a $500 million senior unsecured credit facility to help fund its acquisition of TLC Health Care Services Inc., company officials said in a conference call Tuesday.

JPMorgan, UBS and Oppenheimer are the lead banks on the deal.

The facility will include a $100 million unused revolver, officials said in the call.

According to a market source, pricing on the borderline investment-grade deal is expected to be in the area of Libor plus 175 basis points.

Under the acquisition agreement, Amedisys is buying TLC for $395 million in cash from Arcapita Inc.

The transaction is expected to close early in the second quarter, subject to customary conditions, including receipt of certain regulatory approvals.

Amedisys is a Baton Rouge, La., home nursing company. TLC is a Lake Success, N.Y., provider of home nursing and hospice services.

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