Ryman wraps refi

Ryman Hospitality Properties has wrapped up the big refinancing that increases its main debt facility to $1 billion from $925 million and pushes its maturity from August 2015 to April 2017. The new package has more revolving debt — $700 million versus $525 million — and lowers its rate by 25 basis points.

“This refinancing of our bank credit facility, coupled with the recent completion of our senior notes offering, further strengthens our balance sheet and enhances our flexibility to take advantage of strategic growth opportunities moving forward,” said Chairman, President and CEO Colin Reed. “Given the extremely attractive rates at which we were able to complete these transactions, we are confident that the timing was right and that they are in long-term best interest of our Company and our shareholders.”

Apr 19, 2013 7:35 AM

Earnings wrap: Healthways, Nashville Bank & Trust

Wellness services provider sees smaller-than-expected loss, fee income drives lender
Apr 19, 2013 7:00 AM

Deutsche retreats a good bit on Delek, peers

Analyst Paul Sankey at Deutsche Bank has slashed his price target for shares of Delek US Holdings and several other refining stocks, saying the industry's fundamentals are no longer as positive. Sankey now sees Delek — which has run from $15 to $34 in the past year — climbing to $38 instead of $48. In his note, he said counting on exports to pick up the slack from weaker demand is a risky move.

Apr 18, 2013 7:22 AM

LifePoint in bidding war for Florida hospital

What difference does $60 million make when you are determined to buy a hospital in Florida?

Duke LifePoint, a joint venture of Duke University and Brentwood-based LifePoint Hospitals, has increased its bid for Ocala-based Munroe Regional Medical Center from $138.7 million to $200 million, according to the Star Banner, Ocala’s daily newspaper.

The current $200 million bid is equal to Health Management Associates’ offer for the 421-bed hospital. HMA is a for-profit provider based in Florida. The Star Banner article (read more here) reports the hospital’s management was alarmed at the more than $60 million discrepancy between the bids and was seriously considering the bid from HMA, despite having the opportunity to work in a partnership with a high-profile national name such as Duke.

"We believe this potential relationship is an excellent match for both of our organizations, and we have a great opportunity to work together to enhance healthcare delivery throughout Marion County and the surrounding region,” Diane Huggins, LifePoint's vice president of corporate communications, wrote in a statement to the Star Banner. “The increase in the offer made by Duke LifePoint demonstrates our confidence in our ability to add significant value to secure the future success of the hospital.”

LifePoint (Ticker: LPNT) owns or leases nearly 60 hospitals in 20 states, but only one in Florida. HMA owns or operates 22 hospitals throughout Florida.

Apr 18, 2013 6:45 AM

HCA eyes more behavioral growth

Outpatient development key to 2013 plans
Apr 17, 2013 1:06 PM

Vanguard's new Detroit escrow

Vanguard Health Systems has had to put almost $28 million into an escrow account after its plan to invest a total of $850 million by 2016 fell behind schedule last year. The company (Ticker: VHS) spent $240 million through the end of 2012 and Vice Chairman Keith Pitts told the Free Press the big plan is still intact.

Apr 17, 2013 6:35 AM

Turner: Expect Pinnacle to get into M&A game

Sellers' asking prices nearing what potential buyers would pay
Apr 16, 2013 2:22 PM

HCA shares shake it off

Investors didn't take long Tuesday to shake off the first-quarter earnings warning delivered late Monday by HCA Holdings executives. After dipping 3 percent in pre-market action and opening down about that much, the stock of Nashville's largest company (Ticker: HCA) broke back into the black after 90 minutes and rose steadily after that. That has pushed the company's market value back near $17 billion.

 

Apr 16, 2013 1:21 PM

Pinnacle Q1 EPS jumps 86%

Fee income growth, OREO shrink help power strong numbers
Apr 16, 2013 7:09 AM

HCA previews big Q1 miss

Hospital giant made 'adjustments to its cost structure' as volume growth all but disappeared
Apr 15, 2013 5:23 PM