Nashville, Tenn.-based Radiology Partners has secured approval from its bondholders to change the terms of some of its debt, clearing the way for its planned acquisition of Everlight Radiology, according to an Oct. 12 news release.
Holders of more than 99% of the bonds in question signed off on the changes, far more than the company needed. The approval came ahead of an Oct. 9 deadline.
In exchange, the bondholders who agreed will split a cash payment equal to 2% of the bonds’ value, paid once the Everlight deal closes.
Radiology Partners has also committed to offering to buy back a portion of those bondholders’ debt after the deal closes. If the acquisition doesn’t happen, no payment will be made.
Radiology Partners provides radiology services to more than 3,400 hospitals and other healthcare facilities across the U.S.
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