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ORNDA HEALTHCORP ANNOUNCES $400,000,000 NOTES OFFERING AND COMMITMENT FOR NEW CREDIT AGREEMENT WITH G.E. CAPITAL CORPORATION

 ORNDA HEALTHCORP ANNOUNCES $400,000,000 NOTES OFFERING AND
 COMMITMENT FOR NEW CREDIT AGREEMENT WITH G.E. CAPITAL CORPORATION
 DALLAS, May 22 /PRNewswire/ -- OrNda HealthCorp (NASDAQ: ORND), formerly Republic Health Corporation, today announced the public offering of $400 million of senior subordinated notes due 2002.
 The notes bear interest at 12-1/4 percent per annum and are priced at 100 percent. The company increased the amount of the anticipated offering by $75 million to $400 million.
 The note offering was managed by Donaldson, Lufkin & Jenrette Securities Corporation and co-managed by Kidder, Peabody & Co. Incorporated and Salomon Brothers Inc.
 The net proceeds of the offering will be used to acquire the capital stock of SAFECARE Health Services, Inc., a wholly owned subsidiary of SAFECO Properties, Inc., to refinance certain indebtedness of SAFECARE, to redeem certain indebtedness of the company, to repay certain other indebtedness of the company and for general corporate purposes.
 The company also announced that it had obtained a commitment from General Electric Capital Corporation to provide revolving credit and letter of credit facilities aggregating $100 million.
 OrNda HealthCorp is a health care service company which owns and operates 11 general acute care hospitals with 2,543 licensed beds, three surgery centers and a physician group practice. SAFECARE owns and operates five acute care hospitals with a total of 750 licensed beds and a psychiatric hospital with 44 licensed beds.
 -0- 5/22/92
 /CONTACT: Neil Campbell, vice president-finance, 214-851-3131, or Helen Hardin, 214-851-3151, both of OrNda HealthCorp/
 (ORND) CO: OrNda HealthCorp ST: Dallas IN: HEA SU: OFR


GK-SB -- NY045 -- 3406 05/22/92 15:24 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 22, 1992
Words:268
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