Radiation Therapy amends loan to increase tranche sizes, reduce rates

By Sara Rosenberg

New York, March 21 - Radiation Therapy Services Inc. amended its credit facility, increasing its term loan to $35 million from $25 million and its revolving credit facility to $140 million from $80 million and reducing overall spreads on both tranches by 25 basis points, according to a company news release.

With this amendment, Carolina First Bank and International Bank of Miami were added to the syndicate. They join Bank of America, Wachovia Bank, Fifth Third Bank, SunTrust Bank, Regions Bank and National City Bank.

"We are pleased to strengthen our financial flexibility with these amendments, providing additional access to the capital that supports our acquisitions. The 25 basis points decrease in the interest rate spread will take effect immediately," executive vice president and chief financial officer David M. Koeninger said in the release.

Radiation Therapy is a Fort Myers, Fla.-based operator of radiation therapy centers.

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