Business
Centric Health Announces Terms of its Offer to Purchase Second Lien Senior Secured Notes
TORONTO , June 24, 2015 /CNW/ - Centric Health Corporation ("Centric Health" or "the Comp...
About this update from Carerx Corporation
[{"type":"text","content":"\n\nTORONTO, June 24, 2015 /CNW/ - Centric Health Corporation (\"Centric Health\" or \"the Company\") (TSX: CHH) today announced that $192,251,000 in respect of its 8.625% Second Lien Senior Secured Notes (the \"Notes\") has been surrendered for purchase in accordance with the Company's previously announced offer to purchase up to $10,000,001 of Notes (the \"Offer\"), the Offer amount being comprised of principal, together with accrued and unpaid interest up to but excluding the date of purchase.\n\nAs a greater number of Notes have been surrendered for purchase than the number available under the Offer, the number of Notes to be purchased has been prorated according to the number of Notes tendered for purchase by each holder, rounded up to the nearest increment of $1,000, with the Company contributing sufficient funds to purchase any amounts in excess of $10,000,001 that result from such rounding. Pursuant to this proration and rounding, the Company will, effective June 25, 2015, purchase an aggregate 9,842 Notes at $1,000 increments for a total principal amount of $9,842,000 plus $158,160.94 in accrued and unpaid interest up to but excluding the date of purchase, representing an aggregate total of $10,000,160.94. Holders of Notes shall receive payment for their purchased Notes on June 26, 2015. Holders of Notes that are purchased will not receive any future interest payments on such purchased Notes.\n\n\"With this $10 million repurchase of Notes, we are pleased to conclude on our commitment to deploy $25 million of the partial proceeds from our strategic divestitures in 2014 towards debt reduction,\" said David Cutler, President and Chief Executive Officer. \"We are continuing to actively explore various opportunities to further reduce our debt and strengthen our balance sheet within the context of the Board of Directors' approval in May to pursue further debt reduction strategies to maximize shareholder value.\"\n\nAbout Centric Health\n\nCentric Health is Canada's largest and most comprehensive independent provider of healthcare services focused on producing leading patient outcomes and delivering quality, innovation and sustainable value to patients, clients and stakeholders. With more than 3,000 dedicated healthcare professionals, consultants and support staff serving patients and clients through an extensive platform...