The amendment to the credit agreement relating to the First Lien Debt included an increase to the margin ranges for LIBOR loans from 4.00% to 4.50% (from the original 3.50% to 4.00%) and for Base rate loans from 3.00% to 3.50%, (from the original 2.50% to 3.00%) respectively, as well as an amendment fee of .25% to the outstanding First Lien indebtedness. The amendment to the credit agreement relating to the Second Lien Debt established a LIBOR-based, and Base Rate-based, loan floor interest rate of 13.25% and 14.25%, respectively. As a result, the applicable interest rate beginning March 28, 2008 for the Second Lien Debt will be the greater of LIBOR plus the applicable original margin of 8.00% or 13.25% for Eurodollar rate loans, and the greater of the prime rate plus the original applicable margin of 7.00% or 14.25% for non-Eurodollar loans.
About Chem Rx
Founded more than 40 years ago, Chem Rx is a major, institutional pharmacy serving the New York City metropolitan area, as well as parts of New Jersey, upstate New York, Pennsylvania and Florida. Chem Rx's client base includes skilled nursing facilities and a wide range of other long-term care facilities. Chem Rx provides to more than 65,000 residents prescription and non-prescription drugs, intravenous medications, durable medical equipment items and surgical supplies. Chem Rx's website address is http://www.chemrx.net.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 about Chem
Rx Corporation. Forward-looking statements are statements that are not
|SOURCE Chem Rx Corporation|
Copyright©2008 PR Newswire.
All rights reserved