Business News • MarketWire • Sun Healthcare Group, Inc. Announces Proposed Refinancing |
Sun Healthcare Group, Inc. Announces Proposed Refinancing |
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Sun Healthcare Group, Inc. Announces Proposed Refinancing
IRVINE, CA--(Marketwire - September 23, 2010) - Sun Healthcare Group, Inc. (NASDAQ: SUNH) ("Sun") announced today that it intends to refinance its existing senior secured credit facilities with borrowings under a new senior secured credit facility to be entered into by SHG Services, Inc., a subsidiary of Sun ("SHG"). The new senior secured facility is expected to include a $60 million revolving credit facility, a $150 million term loan and a $75 million funded letter of credit facility. The refinancing, which is being undertaken in connection with Sun's previously announced restructuring, is subject to market and other conditions, and there can be no assurances that these transactions will be consummated.
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