Amedisys gets $225 million five-year facility led by JPMorgan, Merrill

By Susanna Moon

Chicago, Oct. 29 - Amedisys, Inc. said it obtained a new $225 million five-year unsecured credit facility led by JPMorgan Chase Bank, NA and Bank of America Merrill Lynch as bookrunners.

The facility consists of a $165 million five-year revolving credit facility and a $60 million five-year amortizing term loan, according to a company press release.

The company also amended its senior notes to allow a partial prepayment and to conform provisions to the new credit facility.

Proceeds from the new term loan, along with existing cash, were used to pay off the $15 million left on the company's term loan and some of its $60 million outstanding senior notes.

"The five-year revolving credit facility will support our capital needs, including acquisition opportunities, which we believe will become increasingly attractive over the term of the agreement," William F. Borne, chief executive officer of Amedisys, noted in the release.

"The strength of our balance sheet, coupled with this new credit facility and the amendment to our senior notes, will enable us to lower our ongoing interest costs while improving the financial flexibility of our capital structure."

Amedisys is a home health and hospice care company based in Baton Rouge, La.

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