American HomePatient signs eighth forbearance agreement with NexBank, SSB

Feb 14 2010NewsGuard 100/100 Score

American HomePatient, Inc. (OTCBB: AHOM), one of the nation’s largest home health care providers, today announced that it has entered into an eighth forbearance agreement with NexBank, SSB, the agent for its senior debt (the “Agent”), and the holders in interest of a majority of the senior debt (the “Forbearance Holders”).

Approximately $226 million was due to be repaid in full on the maturity date of August 1, 2009 pursuant to the terms of the Company’s secured promissory note. The Company and its lenders continue to work toward a resolution of the debt maturity issue. Under the forbearance agreement, the lenders may not take any actions against the Company available to them as a result of the default, prior to March 16, 2010.

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American HomePatient, Inc.

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