Lifepoint Health, Inc. Announces Pricing of $800 Million Senior Notes Offering in Connection with Debt Paydown
2024年5月10日 - 8:37AM
ビジネスワイヤ(英語)
Lifepoint Health, Inc. (the “Company”) today announced that it
has priced its offering of $800 million aggregate principal amount
of 10.000% Senior Notes due 2032 (the “Notes”) at an issue price of
100.000% in a private offering that is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”). As previously announced, on May 8, 2024, the
Company also launched a new incremental senior secured term loan
facility (the “Incremental Term Loan Facility”). The aggregate
principal amount of the Notes expected to be issued in the offering
was decreased from the previously announced $900 million to $800
million, and the Incremental Term Loan Facility was increased from
the previously announced $400 million to $500 million. The Notes
offering is expected to close on May 17, 2024, concurrently with
the incurrence of the Incremental Term Loan Facility, in each case,
subject to market conditions and other factors. The proposed
offering of Notes is not conditioned upon the consummation of the
Incremental Term Loan Facility.
The Company intends to use the net proceeds from the Notes
offering, together with proceeds from the Incremental Term Loan
Facility, to redeem all of its 9.750% Senior Notes due 2026 (the
“2026 Notes”) and pay fees and expenses in connection with the
transactions, with any remainder being used for general corporate
purposes. The Company delivered a notice of conditional redemption
today to redeem the 2026 Notes in full, at par plus accrued
interest. The redemption is subject to the Company consummating the
Notes offering and the Incremental Term Loan Facility and is
expected to occur on June 8, 2024.
The Notes will initially be fully and unconditionally guaranteed
by all of the Company’s subsidiaries that guarantee its term loan
facility (including the Incremental Term Loan Facility) and the
Company’s other senior secured notes and senior unsecured
notes.
The Notes are being offered only to persons reasonably believed
to be qualified institutional buyers in reliance on Rule 144A under
the Securities Act, and outside the United States, only to non-U.S.
investors pursuant to Regulation S under the Securities Act. The
Notes will not be registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States
absent an effective registration statement or an applicable
exemption from registration requirements or a transaction not
subject to the registration requirements of the Securities Act or
any state securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful.
Neither this press release nor anything contained herein shall
constitute a notice of redemption with respect to the 2026
Notes.
About Lifepoint Health
Lifepoint Health is a leading healthcare provider that serves
patients, clinicians, communities and partner organizations across
the healthcare continuum. Driven by a mission of making communities
healthier®, the company has a growing diversified healthcare
delivery network comprised of nearly 55,000 dedicated employees, 60
community hospital campuses, more than 60 rehabilitation and
behavioral health hospitals and 250 additional sites of care,
including managed acute rehabilitation units, outpatient centers
and post-acute care facilities.
Forward-Looking Statements:
This press release contains forward-looking statements that
involve risks and uncertainties. Forward-looking statements include
any statements that address future results or occurrences. In some
cases you can identify forward-looking statements by terminology
such as “may,” “might,” “will,” “would,” “should,” “could” or the
negatives thereof. Generally, the words “anticipate,” “believe,”
“continue,” “expect,” “intend,” “estimate, “project,” “plan” and
similar expressions identify forward-looking statements. In
particular, statements about the Company’s expectations, beliefs,
plans, objectives, assumptions or future events or performance
contained elsewhere in this press release are forward-looking
statements. These forward-looking statements include statements
that are not historical facts, including statements concerning the
Notes offering, the Incremental Term Loan Facility and the
anticipated use of proceeds. The Company has based these
forward-looking statements on its current expectations,
assumptions, estimates and projections. While the Company believes
these expectations, assumptions, estimates and projections are
reasonable, such forward-looking statements are only predictions
and involve known and unknown risks, uncertainties and other
factors, many of which are outside of the Company’s control, which
could cause its actual results, performance or achievements to
differ materially from any results, performance or achievements
expressed or implied by such forward-looking statements. Given
these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. The Company disclaims
any obligation to update any such factors or to announce the result
of any revisions to any of the forward-looking statements contained
herein to reflect future results, events or developments.
Statements in this press release are made as of the date hereof.
New factors emerge from time to time that could cause actual
results to differ, and it is not possible to predict all such
factors.
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Media Contact Emily Serck 615-920-7730
emily.serck@lpnt.net