ELMSFORD, N.Y., April 16, 2013 /PRNewswire/ -- BioScrip,
Inc. (NASDAQ: BIOS) (the "Company" or "BioScrip") today announced
it intends to refinance its existing indebtedness with the proceeds
of a new senior secured credit facility, including a revolving
credit facility and a term loan, in an approximate aggregate
principal amount of $325
million. BioScrip has entered into a best efforts
commitment with respect to such credit facility to be arranged and
syndicated by SunTrust Robinson Humphrey, Inc., Jefferies Finance
LLC and Morgan Stanley Senior Credit Funding, Inc. The
proceeds of such credit facility will be used by BioScrip to
refinance its existing asset-based revolving credit facility, to
redeem its outstanding 10¼% senior unsecured notes and to otherwise
support the working capital and general corporate needs of the
Company.
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This press release does not constitute an offer to sell or a
solicitation of an offer to buy securities, nor shall there be any
sale of securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About BioScrip
BioScrip, Inc. provides comprehensive infusion and home care
solutions. By partnering with patients, physicians, healthcare
payors, government agencies and pharmaceutical manufacturers we are
able to provide access to infusible medications and management
solutions. Our goal is to optimize outcomes for chronic and other
complex healthcare conditions and enhance the quality of patient
life. BioScrip brings clinical competence in providing high-touch,
comprehensive infusion and nursing services to patients in the most
convenient ways possible. Through our customer services and
treatments we aim to ensure the best possible therapy outcome.
Forward Looking Statements
This press release includes statements that may constitute
"forward-looking statements," that involve substantial risks and
uncertainties. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. You can identify these statements by the fact
that they do not relate strictly to historical or current facts.
In some cases, forward-looking statements can be identified
by words such as "may," "should," "could," "anticipate,"
"estimate," "expect," "project," "intend," "plan," "believe,"
"predict," "potential," "continue" or comparable
terms. These forward-looking statements include, among others,
statements about the Company's expectations with respect to its use
of proceeds from the proposed refinancing. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results to
be materially different from any results expressed or implied by
such forward-looking statements. For example, there are risks
associated with market conditions and the Company's ability to
satisfy certain conditions precedent to the closing of the
refinancing; as well as the risks described in the Company's
periodic filings with the Securities and Exchange Commission,
including, but not limited to, the Company's annual report on Form
10-K for the year ended December 31, 2012. The
Company does not undertake any duty to update these forward-looking
statements after the date hereof, even though the Company's
situation may change in the future. All of the
forward-looking statements herein are qualified by these cautionary
statements.
SOURCE BioScrip, Inc.