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Tuesday, Apr 23, 2024
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AMN Negotiates New Credit Agreement

AMN Healthcare Inc., the San Diego nurse staffing company, reported it arranged a new credit agreement with a group of undisclosed lenders of up to $150 million, consisting of $40 million in a secured revolving credit facility and a $110 million secured term loan, the company disclosed in a securities filing dated Dec. 23.

The proceeds from an initial draw down from the credit line were used to repay in full all outstanding indebtedness under a prior credit agreement to which the company was a party, for collateral on certain earlier letters of credit and for transaction costs, the company said.

Both the credit line and term loan carry floating interest rates based on either Libor (London interbank offered rate) or the prime interest rates at the option of the company, plus an additional predetermined spread.

AMN Healthcare trades on the New York Stock Exchange as AHS. In late trading Dec. 31 shares stood at $9.25. The stock’s 52-week range has been $4.56 to $11.00.

— Mike Allen

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