AmSurg executives announced Wednesday they plan to market $250 million of debt and pay down the company's revolving credit line.
The move by the surgery center chain comes shortly after CEO Chris Holden told analysts and investors that his team was looking to make some moves that would let AmSurg pursue more acquisitions. Paying down the revolver's balance, which stood at $296 million on Sept. 30, with long-term debt would help clear the decks somewhat. The company in late June amended the terms of its revolver, which matures in mid-2017, to let it borrow up to $475 million.
At about 11 a.m., shares of AmSurg (Ticker: AMSG) were trading down 1.6 percent to $27.63. Year to date, they've climbed about 6 percent.