Amedisys lines up $60 million loan

Amedisys Inc., a Baton Rouge-based national home health provider, announced this morning it has entered into a new $225 million unsecured credit facility agreement that includes a five-year, $60 million loan. Amedisys says it will use the new loan and cash to pay off the remaining $15 million balance of a previous term loan, as well as $60 million in senior notes, which are loans that must be repaid first if a company goes out of business. The new facility includes a $165 million, five-year revolving credit line, and is being backed by a group of banks including JPMorgan Chase Bank, N.A., and Bank of America Merrill Lynch. “The five-year revolving credit facility will support our capital needs, including acquisition opportunities, which we believe will become increasingly attractive over the term of the agreement,” says Amedisys CEO William Borne. “The strength of our balance sheet, coupled with this new credit facility and the amendment to our senior notes, will enable us to lower our ongoing interest costs while improving the financial flexibility of our capital structure.”