Ambulatory surgery center owner and operator Symbion has closed on its offering of $350 million in senior secured notes, a move that makes up a broader refinancing plan, according to a Nashville Post report.
The Nashville-based company will use the sale's net proceeds to pay of its outstanding borrowings under its $350 million senior secured credit line and repurchase $70.8 million of payment-in-kind toggle notes, which allow the company to pay interest by issuing more debt.
Read previous Becker's coverage on Symbion's debt offering.
Related Articles on Symbion:
29 Great Presidents and CEOs in the Surgery Center Industry
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5 Best Practices for Thriving Orthopedic Surgery Centers
The Nashville-based company will use the sale's net proceeds to pay of its outstanding borrowings under its $350 million senior secured credit line and repurchase $70.8 million of payment-in-kind toggle notes, which allow the company to pay interest by issuing more debt.
Read previous Becker's coverage on Symbion's debt offering.
Related Articles on Symbion:
29 Great Presidents and CEOs in the Surgery Center Industry
Symbion Q1 Revenue Increases Nearly 31 Percent
5 Best Practices for Thriving Orthopedic Surgery Centers