Here’s what you should know.
1. SCA wants to replace its existing loan with a new $444.4 million loan while also obtaining an incremental term loan of $150 million in aggregate principal.
2. SCA is refinancing now to take advantage of favorable market conditions.
3. Proceeds from the new term loan will repay all outstanding borrowers. Proceeds from the incremental term loan will fund ordinary course investment in ASCs. They’ll also be used as general working capital.
4. SCA wants to close on the loans by the end of October.
More transaction/valuation news:
4 things to know about Shriners Hospital for Children Medical Center’s new $77M outpatient facility
6 hospitals, health systems opening or planning ASCs — September 2016
Jefferies analysts weigh in on SCA shares: 3 notes
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.