AMS - American Shared Hospital Services inks $22M credit agreement with Fifth Third Bank

American Shared Hospital Services ([[AMS]] -2.0%) signed a $22M credit agreement with Cincinnati, Ohio headquartered Fifth Third Bank with $200B+ in assets.The agreement which closed on Apr.9 consists of three loan facilities - two term loans of $9.5M and $5.5M each and third facility of the credit agreement provides for a $7M revolving line of credit which will be used to increase the company's flexibility in negotiating future projects and also be available for general corporate purposes.The transaction immediately lowers cost of capital and provides ample financial resources to increase the company's capacity for additional projects through a more diversified business model."This milestone transaction with Fifth Third Bank will enable AMS to realize substantial savings from the refinancing of our existing debt, and at the same time, provide us with incremental capital to accelerate the growth of our business," CEO Ray Stachowiak commented.

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American Shared Hospital Services inks $22M credit agreement with Fifth Third Bank