Maxicare Health Plans Inc. reported that it...
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Maxicare Health Plans Inc. reported that it has executed a definitive agreement with its bank lenders to amend its current bank loan arrangements. The Los Angeles company announced an agreement on essential terms on April 12. Under the definitive agreement, the outstanding principal amount under Maxicare’s existing $175-million revolving bank loan will be converted into a term loan that will mature March 31, 1991. Principal payments of $12.5 million will be paid quarterly.
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