Vanguard borrows another $300M

Executives at Vanguard Health Systems have refinanced almost $800 million in term loans with their bank group led by Bank of America and added another $300 million to the company's debt load. The new deals lower the hospital operator's interest rate on its terms loans — which will mature in early 2016 — by 75 basis points. As of Dec. 31, Burton Hills-based Vanguard (Ticker: VHS) had $2.7 billion of long-term debt on its books, eight times its total shareholders' equity.