Iasis Healthcare, Franklin, Tenn., completed its refinancing transactions, raising nearly $2.18 billion, according to an Iasis news release.
Iasis completes refinancing moves
Iasis slightly altered the composition of the new debt package from its announcement (PDF) of the package last month. The term loan is nearly $1.03 billion, or $90 million more than originally proposed, according to Iasis. The senior notes due in 2019 total $850 million, or $85 million less than originally proposed. Unchanged is the revolving credit line of $300 million.
The proceeds of the new debt are to be used to pay off existing debt, fund the acquisition of a 79% stake in St. Joseph Medical Center in Houston and provide capital for acquisitions or other investments, according to Iasis.
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