Deutsche Bank AG, Barclays Plc, Bank of America Corp. and General Electric Co.'s financing unit are arranging a six-year, $245 million term loan and a $60 million revolving credit line for the Brentwood-based company.
Welsh, Carson invested in the company in 2005. Citigroup Inc. arranged Renal Advantage's $50 million revolving credit line maturing in October and $205 million term loan due October 2012, according to data compiled by Bloomberg. In a revolving credit facility, money can be borrowed again once it's repaid; in a term loan, it can't.
The term loan had an interest rate 2.5 percentage points more than the London interbank offered rate (LIBOR) when it was arranged in 2005. At the time, the revolver had a margin of 3 percentage points over LIBOR, the rate banks charge to lend to each other.
— BLOOMBERG NEWS
Mortgage rates lowest of the year
Mortgage rates fell this week to the lowest level of the year. The average rate on a 30-year fixed rate mortgage dipped to 4.93 percent this week from 5 percent a week earlier, Freddie Mac said Thursday. It was the lowest level since mid-December, when rates averaged 4.81 percent.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
— ASSOCIATED PRESS
Mortgage Rates Ease a Bit This WeekLocal business briefs: Petra Capital completes investment
