BankAmerica Arranges $725M Of Financing For Paracelsus Healthcare And Advises On Champion Merger.LOS ANGELES--(BUSINESS WIRE)--August 19, 1996--Bank of America NT&SA was the lead agent and arranger on a $400 million revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. to Paracelsus Healthcare Corporation. In addition, BankAmerica Corporation's investment banking subsidiary, BA Securities, Inc., co-managed a $325 million offering of senior subordinated notes, and BA Partners, the M&A division of BA Securities, Inc., served as the financial advisor to Paracelsus in connection with its merger with Champion Healthcare Corporation. The combined company, called Paracelsus, is the sixth-largest investor-owned healthcare provider in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "Because of our industry knowledge, capital strength, and seasoned investment banking professionals, BankAmerica was able to be a one-stop-shop for Paracelsus' financial needs," said Managing Director Jim Emslie, healthcare industry manager for the bank's US Corporate Group. BA Partners' Senior Managing Director Gidon Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. added, "For BankAmerica, these integrated transactions demonstrate our ability to add significant value to our clients by both arranging strategic M&A transactions and providing multiple levels of financing." In a separate transaction that closed on May 20, BA Partners initiated and advised Paracelsus in its $70 million acquisition of FHP fhp or f.hp. abbr. friction horsepower Hospital of Utah, helping Paracelsus create a leadership position in the Salt Lake market. BankAmerica Corporation is a leading provider of capital and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to healthcare companies throughout the United States. Its Healthcare Finance group has a strong national presence supported by local operations in 20 states. BA Securities, Inc. is the investment banking subsidiary of BankAmerica Corporation. BA Partners is the mergers and acquisition division of BA Securities, Inc. CONTACT: Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Sandra Watson, 415/622-2100 sandra.watson@bankamerica.com |
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