Surgical Care Affiliates, Inc. Announces Successful Refinancing of Term Loan Facility
October 25 2016 - 10:00AM
Surgical Care Affiliates, Inc. (NASDAQ:SCAI) (“SCA”) today
announced that it has closed on the refinancing of its term loan
facility under SCA’s credit agreement. SCA obtained new
incremental term loans in the amount of $643,250,000, a portion of
which was used to prepay in full the $443,250,000 of outstanding
initial term loans, together with accrued but unpaid interest and
fees thereon, and to pay related transaction costs. The
remaining proceeds are expected to be used for general corporate
purposes, including to finance acquisitions. The interest
rate applicable to the new term loans has been reduced by reducing
the applicable margins to 2.75% from 3.25% for LIBOR loans and to
1.75% from 2.25% for base rate loans.
About Surgical Care Affiliates, Inc.
SCA (NASDAQ:SCAI), a leader in the outpatient surgery industry,
strategically partners with health plans, medical groups and health
systems across the country to develop and optimize surgical
facilities. As of June 30, 2016, SCA operated 201 surgical
facilities, including ambulatory surgery centers and surgical
hospitals, in partnership with approximately 3,000 physicians.
For more information on SCA, visit
www.scasurgery.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements, which have been included in reliance on
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, involve risks and uncertainties and assumptions
relating to our operations, financial condition, business,
prospects, growth strategy and liquidity, which may cause our
actual results to differ materially from those projected by such
forward-looking statements, and the Company cannot give assurances
that such statements will prove to be correct.
The forward-looking statements made in this
press release are made only as of the date hereof. Except as
required by law, we undertake no obligation to update any
forward-looking statement, whether as a result of new information
or otherwise. Information about potential factors that could affect
our business and financial results is included in our filings with
the Securities and Exchange Commission, including in our most
recent annual report on Form 10-K and subsequently filed quarterly
reports on Form 10-Q.
Contacts:
Tom De Weerdt
Executive Vice President and Chief Financial Officer
Surgical Care Affiliates
(847) 267-3502
tom.deweerdt@scasurgery.com
Leslie Wachsman
Vice President, Finance and Investor Relations
Surgical Care Affiliates
(847) 267-9823
leslie.wachsman@scasurgery.com
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