Alliance Health Care Services, which is a Newport Beach-based company, is planning to rework on its finances. On Thursday, it has announced a proposal to issue a sum of $200 million in debt for refinancing purposes. The Newport Beach-based company basically runs medical imaging and cancer treatment centers.

Alliance is also planning to start a new credit deal along with a bunch of its lenders. The deal is expected to finalize a term loan of $450 million and a credit line of around $120 million. It will help the company in refinancing its finances. The chief financial officer of Alliance, Howard Aihara, said that Alliance also has an existing term loan of $350 million. The term loan is due to be paid in the year 2011.

The revenue from the debt and term loan would be used for paying out another outstanding debt of $300 million by Alliance. The $300 million debt is due to be paid in the year 2012.

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