LifeCare Holdings, Inc. Announces Second Quart...(nior subordinated notes due 2013 a $245....),Health

Date:8/14/2009

nior subordinated notes due 2013, a $245.4 million term loan facility that matures in 2012, and $35.0 million outstanding on our revolving credit facility which matures in 2011. At June 30, 2009, the interest rate applicable to the $245.4 million under our term loan facility was 5.29%, and the weighted average rate on the $35.0 million outstanding balance of the revolving credit facility was 4.93%.

The senior secured credit facility requires us to comply on a quarterly basis with certain financial covenants, including an interest coverage ratio test and a maximum leverage ratio test, which will become more restrictive over time. In addition, the senior secured credit facility includes various negative covenants, including limitations on indebtedness, liens, investments, permitted businesses, restricted payments, transactions with affiliates and other matters, as well as certain customary representations and warranties, affirmative covenants and events of default including payment defaults.

We may not able to continue to satisfy the covenant requirements in subsequent periods. If we are unable to maintain compliance with the covenants contained in our senior secured credit facility, an event of default would occur. During the continuation of an event of default, the lenders under the senior secured credit facility are entitled to take various actions, including accelerating amounts due under the senior secured credit facility, terminating our access to our revolving credit facility and all other actions generally available to a secured creditor. An uncured event of default would have a material adverse effect on our financial position, results of operations and cash flow.

We believe that our cash on hand, expected cash flows from operations, and potential availability of borrowings under the revolving portion of our senior secured credit facilities will be sufficient to finance our operations, and meet our sc
'/>"/>

SOURCE LifeCare Holdings, Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Related medicine news :

1. LifeCare Holdings, Inc. Announces Third Quarter Results
2. LifeCare Hospitals of Wisconsin Unveils Center for Advanced Wound Healing
3. LifeCare Holdings, Inc. Announces Year-end Results
4. LifeCare Holdings, Inc. Names McAlister Chairman and CEO
5. LifeCare Holdings, Inc. Announces First Quarter Results
6. LifeCare Wins Breastfeeding-Friendly Business Award from Connecticut Breastfeeding Coalition
7. LifeCare Hospitals Names New Vice President of Marketing
8. LifeCare Holdings, Inc. Announces Year-End Results
9. The Female Health Company / HLL Lifecare Limited Receive National AIDS Control Organization of India Order for 1.5 Million FC2 Female Condoms
10. LifeCare Holdings, Inc. Announces First Quarter Results
11. China Shenghuo Pharmaceutical Holdings, Inc. Begins Full-Scale Launch of 12Ways(R) Chinese Herbal Skin Care Product Line