LifePoint Hospitals Announces $450 Million Term Loan and $350 Million Revolving Credit Facility

LifePoint Hospitals, Inc. LPNT today announced that it has entered into a credit agreement with Citibank, N.A. as administrative agent, and Bank of America Merrill Lynch and Barclays as joint lead arrangers and joint book-runners, and other lenders. The credit agreement provides for a $450.0 million term loan and a $350.0 million revolving credit facility, which matures in July 2017. The credit facility includes an accordion feature that, subject to certain conditions and additional commitments from lenders, would allow further expansion, the amount of which is a function of the Company's leverage ratio. The term loan amortizes annually over the loan period with principal and interest payments due quarterly, with a final payment of all remaining outstanding principal and accrued interest on the term loan and the revolving credit facility due at maturity.