Coram (CRH)--has the turnaround begun Message Board

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Microcap & Penny Stocks : Coram (CRH)--has the turnaround begun

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To: leigh aulper who wrote ()	1/23/1998 8:23:00 AM
From: leigh aulper	Read Replies (1) of 85

Coram Announces Repayment of Senior Credit Facility DENVER, Jan. 22 /PRNewswire/ -- Coram Healthcare (NYSE: CRH) announced today that it repaid in full its senior credit facility and ceased the discussions previously announced to reduce to $80 million its senior credit facility and to repay approximately $100 million of Coram's Subordinated Rollover Notes. On October 29, 1997, Coram announced that it was in substantive negotiations to pay down its senior debt and Subordinated Rollover Notes in return for, among other considerations, a reduction in the number of warrants to purchase Coram Common Stock; these warrants vest quarterly with its subordinated lenders so long as the Rollover Notes are outstanding. Richard Smith, Coram's President, stated, "The negotiations with our subordinated lenders could not be concluded in a manner that we believed was favorable to Coram. Repayment of our senior debt provides Coram with the greatest flexibility in continuing expeditiously to pursue the restructuring of our balance sheet."

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