Apria seeks to increase flexibility
LAKE FOREST, Calif. – Apria is considering options for refinancing a portion of its debt to increase its financial and operating flexibility, according to a press release. Apria may elect to use the net proceeds from these financing transactions to redeem all or a portion of its outstanding 11.25% senior secured notes (series A-1) due 2014, and a portion of its outstanding 12.375% senior secured notes (Series A-2) due 2014, along with fees involved with those transactions. The refinancing may include borrowings under a new bank loan facility and other available funds, the release noted. The company said there is no assurance that such financing, and the subsequent redemptions, will be completed.