Renal Care Group finalizes $150 million credit facility agreement

By Sara Rosenberg

New York, July 9 - Renal Care Group Inc. finalized a new $150 million credit facility that consists of a $100 million three-year facility and a $50 million 364-day facility, according to a company press release. The syndicate was led by Bank of America and included SunTrust Bank, Amsouth Bank and Wells Fargo Bank.

Proceeds will be used to fund working capital needs and capital expenditures and for general corporate purposes, the release said.

"We view the completion of these credit agreements as an important step in maintaining our flexibility to deal with opportunities as they present themselves," said Sam Brooks, chairman and chief executive officer, in the release. "We're very pleased to have such a strong bank group working with us. We believe that the $150 million facilities, along with cash from operations, will allow us to meet our expansion plans over the next several years."

Renal Care Group is a Nashville, Tenn. dialysis services company.

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