Integrated Health Services
bank debt last week traded up to the 46 1/2 to
47 range, up from 44-45. A total of $40 million changed hands
over the course of the week. Dealers continue to attribute
the levels to an improving industry. "Health care credits are
up because the companies are up," said a dealer. Integrated
Health, based in Sparks, Md., owns or operates approximately
365 nursing homes and 15 specialty hospitals that offer wound
management, cardiac care, Alzheimer's disease treatment, and
other rehabilitation services.
Integrated Health has a $2.15 billion credit that
breaks down into three tranches. Pricing is linked to the company's
leverage ratio and ranges from LIBOR plus 3
LIBOR plus 3%.
are the lead