Team Health (TMH) Reaises Revolving Credit Line to $225 Million
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Team Health Holdings (NYSE: TMH) has increased the amount of its secured revolving line of credit from $175 million to $225 million. The increase in the revolving line of credit was facilitated under the provisions of the accordion feature of the Company's existing senior credit agreement that was effective June 29, 2011.
As a result, all current terms of the revolving credit facility, including pricing and maturity remain unchanged. The revolving line of credit matures on June 29, 2016 and the interest rate on any outstanding amounts under the revolver is priced off a grid based upon the Company's first lien net leverage ratio. The revolving line of credit is available to the company for general corporate purposes, including the funding of strategic acquisitions, working capital, and capital expenditures subject to existing restrictions contained within the credit agreement.
As a result, all current terms of the revolving credit facility, including pricing and maturity remain unchanged. The revolving line of credit matures on June 29, 2016 and the interest rate on any outstanding amounts under the revolver is priced off a grid based upon the Company's first lien net leverage ratio. The revolving line of credit is available to the company for general corporate purposes, including the funding of strategic acquisitions, working capital, and capital expenditures subject to existing restrictions contained within the credit agreement.
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