It’s not a
multibillion-dollar merger, but it’s a sign that perhaps the economy isn’t totally kaput.
The sign is that credit is being extended to borrowers. In this case, the credit is a $25 million loan from General Electric Co.’s GE Capital lending unit.
The healthcare financial services division of GE Capital extended the credit facility this month to Regency Healthcare Group, a hospice provider based in the Nashville suburb of Brentwood, Tenn. Regency is a portfolio company of Atlanta private equity firm EDG Partners LLC. GE Capital said Regency will use the credit facility to refinance existing debt and to grow the company. Regency operates 17 hospices in the southeastern U.S.
Kilpatrick Stockton partners Raj Natarajan, Naho Kobayashi and Art Gambill and associate Angela Ramson advised GE Capital. Paul, Hastings, Janofsky & Walker associates Shannon Baxter [photo, left] and Behrouz Kianian advised Regency and EDG Partners. No Paul Hastings partners were involved in the transaction, Baxter said.