BioScrip amends loan, trimming revolver size and Libor floor

By Sara Rosenberg

New York, Aug. 2 - BioScrip Inc. amended its credit facility, reducing the revolver to $125 million from $150 million and lowering the Libor floor to 1% from 1.25%, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Also, the amendment cut the minimum revolving balance to zero from $30 million, increased the basket limitation for loans and advances to third parties and investments in permitted joint ventures to $60 million, removed the dollar limitation on permitted acquisitions and revised the definition of consolidated EBITDA.

The amendment was completed on July 30.

Healthcare Finance Group LLC is the administrative agent on the deal.

BioScrip is an Elmsford, N.Y.-based provider of pharmacy and home health services.

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