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A.D.A.M., Inc.
A.D.A.M., Inc. Announces Completion of Refinancing Plan
January 23rd, 2009
A.D.A.M., Inc. (NASDAQ: ADAM - News), a leading provider of health information and benefits technology solutions announced that it has completed its refinancing plan and has obtained a new credit facility with RBC Bank USA. This new facility replaced the existing 2006 credit agreement with CapitalSource LLC. Under the new agreement, A.D.A.M. secured a term loan of $10 million and expanded its revolving credit facility from $2 million to $3 million. A.D.A.M. will pay $2 million per year of principal and can repay its debt obligations at any time with no prepayment penalties. The new interest rate is equal to the 30-day LIBOR plus 3.25% compared to A.D.A.M.’s previous...
Source: Health Business Week (2009-01-23)
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