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AmSurg closes on $375M revolving credit facility

Tue, 06/01/2010 - 4:10pm
The Associated Press

AmSurg Corp. said Tuesday it obtained a new revolving credit facility that lets it borrow up to $375 million and placed $75 million in senior notes.

The company said the refinancing will reduce 2010 earnings by about 11 cents per share.

AmSurg, which operates surgery centers, said the new credit facility matures in May 2015 and replaces one that was scheduled to run until July 2011. The new senior notes mature in 2020 and will pay a fixed rate of 6.04 percent.

CEO Christopher A. Holden said the moves expanded AmSurg's credit availability and left the company "well-positioned to fund our acquisition strategy for the foreseeable future."

AmSurg shares fell 71 cents, or 3.6 percent, to $19.09.

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