Imaging services provider InSight Health Services reported that it will offer to swap stock for subordinated notes in an effort to eliminate nearly $195 million of debt.
The Lake Forest, CA-based firm said that it has proposed 87% of its common stock in exchange for the subordinated notes. If the deal is accepted by the note holders, the firm said it will result in the elimination of approximately $194.5 million in note principal, as well as reduce its annual interest expense by more $19 million.
By AuntMinnie.com staff writers
February 15, 2007
Related Reading
DRA charge adds to red ink at InSight Health, September 29, 2006
InSight Health completes East Bay imaging deal, March 16, 2006
West Physics signs InSight Health, December 13, 2005
InSight posts revenue growth, higher losses, September 1, 2005
Confirma signs InSight, August 23, 2005
Copyright © 2007 AuntMinnie.com
