VCA Antech obtains $146.4 million term loan D

By Sara Rosenberg

New York, Aug. 19 - VCA Antech Inc. closed on a new $146.4 million senior term loan D. Goldman Sachs and Wells Fargo were the lead banks on the deal.

The term loan D carries an interest rate of Libor plus 250 basis points.

Proceeds were used to retire the company's $166.4 million principal balance outstanding under its senior term loan C, which carried an interest rate of Libor plus 300 basis points. The company voluntarily repaid the remaining $20 million of the term loan C with cash on-hand.

In connection with this transaction, the company will incur a charge up to approximately $1.3 million in non-cash debt retirement costs pertaining to the write-off of unamortized deferred financing costs associated with the debt retired during the third quarter of 2003.

"I am pleased that the strength of our operations and the excellent efforts of Goldman Sachs and Wells Fargo have enabled us to continue to make significant and beneficial changes to our capital structure. With this voluntary debt repayment and refinancing, we will reduce our total outstanding debt and further reduce our borrowing costs," said Bob Antin, chairman and chief executive officer, in a news release.

VCA Antech is a Los Angeles animal healthcare services company.

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