Prospect Medical gets tenders and consents for 90.6% of 12¾% notes

By Jennifer Chiou

New York, July 26 - Prospect Medical Holdings, Inc. announced the receipt of tenders and consents from holders of $137,637,000, or 90.6%, of its 12¾% senior secured notes due 2014.

The tenders were received as of 5 p.m. ET on July 22, and a supplemental indenture has been executed to effect changes to, among other things, amend the company's reporting obligations under the indenture.

U.S. Bank NA is the trustee.

Prospect Medical is an owner and operator of five community-based hospitals in Los Angeles and a manager of the provision of health care services of HMO enrollees.

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