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PHP HEALTHCARE ANNOUNCES SIGNING OF $20 MILLION CREDIT FACILITY

   PHP HEALTHCARE ANNOUNCES SIGNING OF $20 MILLION CREDIT FACILITY
    ALEXANDRIA, Va., Nov. 5 /PRNewswire/ -- PHP Healthcare Corporation (NASDAQ-NMS: PHPH) announced today the signing of a new three-year credit agreement with Signet Bank of Virginia.  The $20 million facility includes $15 million in revolving loan availability and $5 million in term loan availability.  Outstanding loans under the agreement will bear interest at either prime or 1-1/4 percent over the Federal Funds Rate for revolving loans and prime plus 1/2 percent or 1-3/4 percent over the Federal Funds Rate for the term loans, whichever is lower.
    The company intends to use the proceeds of this facility, in conjunction with the net proceeds of its July 1991 offering of common stock, for working capital, expansion in each of the company's service groups and potential investment in emerging markets consistent with the company's business strategy.
    PHP Healthcare is a diversified managed care company that specializes in building cost effective health delivery partnerships with government at the local, state, and federal levels and the private sector.
    -0-                       11/5/91
    /CONTACT:  Charles H. Robbins, president and chairman, or Anthony Picini, vice president, finance, of PHP Healthcare Corporation, 703-998-7808/
    (PHPH) CO:  PHP Healthcare Corporation ST:  Virginia IN:  INS SU: SB-TW -- DC005 -- 1135 11/05/91 09:49 EST
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Publication:PR Newswire
Date:Nov 5, 1991
Words:215
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