OWINGS MILLS, Md. - Citicorp closed a $500 million revolving credit and term loan agreement with Integrated Health Services Inc.
This credit facility replaces a $250 million credit facility with Citicorp and nine other lenders.
The managed-care provider will use $500 million to finance working capital requirements, to make acquisitions, and for general corporate purposes.
Other lenders include Bank of America and NationsBank as managing agents, Bank of Nova Scotia and the Toronto-Dominion Bank as co-agents, and CoreStates Bank, Credit Lyonnais, Creditanstalt Corporate Finance Inc., First Union National Bank of North Carolina, Fleet Bank, General Electric Capital Corp., Hibernia National Bank, National Westminster Bancorp, PNC Bank, Shawmut Bank, Signet Bank Maryland, and Wells Fargo Bank.