Alliance HealthCare Services Inc: Key Developments
Alliance Healthcare Services, Inc. Announces Pricing Of Private Offering Of $190 Million Senior Notes
November 20, 2009 |
| Alliance Healthcare Services, Inc. announced that it has agreed to sell $190 million in aggregate principal amount of its 8% Senior Notes due 2016 in a private offering. The notes will be sold at a price of 98.690% of the principal amount, for a yield to maturity of 8.250%. Additionally, Alliance has obtained commitments from lenders with respect to a new senior secured credit agreement, to be comprised of a $460 million term loan maturing June 2016 and a $120 million revolving facility maturing December 2014. Alliance intends to use the net proceeds of the offering, together with the proceeds from the term loan under the new senior secured credit agreement, to finance the purchase of Alliance`s outstanding $300 million aggregate principal amount of 7¼% Senior Subordinated Notes due 2012 pursuant to a tender offer and consent solicitation commenced on November 12, 2009. Alliance expects to use the remaining proceeds from the offering and borrowings under the new senior secured credit agreement, together with cash on hand, to refinance Alliance`s existing credit agreement and pay fees and expenses related to the issuance and sale of the notes, the new credit agreement, and the tender offer and consent solicitation. The notes offering and Alliance`s new senior secured credit agreement are expected to close on or about December 1, 2009. |
Alliance Healthcare Services, Inc. Announces Proposed Private Offering of $200 Million of Senior Notes; Intends For New Senior Secured Credit Agreement
November 12, 2009 |
| Alliance Healthcare Services, Inc. announced that it intends to offer, subject to market and other conditions, $200 million aggregate principal amount of seven-year senior notes in a private offering. Alliance also intends to negotiate and enter into a new senior secured credit agreement with a syndicate of lenders. Alliance expects that the new senior secured credit agreement will include a $450 million term loan with a 6½-year maturity, and a $120 million revolving facility with a five-year maturity. Alliance intends to use the net proceeds of the offering, together with the proceeds from the term loan under the new senior secured credit agreement, to finance the purchase of Alliance`s outstanding $300.0 million aggregate principal amount of 7¼% Senior Subordinated Notes due 2012 pursuant to a tender offer and consent solicitation commenced on November 12, 2009. Alliance expects to use the remaining proceeds from the offering and borrowings under the new senior secured credit agreement, together with cash on hand, to refinance Alliance`s existing credit agreement and pay fees and expenses related to the issuance and sale of the notes, the new credit agreement, and the tender offer and consent solicitation. |
Alliance Healthcare Services, Inc. Reaffirms FY 2009 Guidance
October 28, 2009 |
| Alliance Healthcare Services, Inc. reaffirmed its fiscal 2009 guidance and expects revenue to be in the range of $503-$518 million, adjusted EBITDA to be in the range of $177-$192 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $511 million and EBITDA of $180 million for the same period. |
Alliance Healthcare Services, Inc. Lowers FY 2009 Guidance
July 29, 2009 |
| Alliance Healthcare Services, Inc. updated fiscal 2009 guidance and expects revenue to be in the range of $503-$518 million compared to the previous range of $536-$551 million, adjusted EBITDA to be in the range of $177-$192 million compared to the previous range of $187-$202 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $540 million and EBITDA of $188 million for the same period. |
Alliance Healthcare Services, Inc. Reaffirms FY 2009 Guidance-Conference Call
May 19, 2009 |
| Alliance Healthcare Services, Inc. reaffirmed fiscal 2009 guidance for revenue range of $536-$551 million and adjusted EBITDA of $187-$202 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $539 million and EBITDA of $187 million for the same period. |
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