RadNet plans to launch $210 million in term loans on Thursday

By Sara Rosenberg

New York, March 3 - RadNet Inc. is scheduled to hold a bank meeting on Thursday to launch a $180 million second-lien term loan and a $30 million tack-on to its first-lien term loan B, company officials said in a conference call on Monday.

Proceeds from the $210 million in first- and second-lien loans will be used to refinance $200 million of 10 3/8% senior unsecured notes due 2018.

"Our objective is to lower our cash interest obligations, provide us with additional operating flexibility and lengthen the maturity of our most junior debt capital," said Mark Stolper, executive vice president and chief financial officer, in a news release, regarding the refinancing.

Closing is expected in April.

RadNet is a Los Angeles-based owner and operator of fixed-site diagnostic imaging centers.

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