LifePoint Health to price $600 million seven-year notes on Tuesday

By Paul A. Harris

Portland, Ore., Feb. 11 – LifePoint Health, Inc. plans to price a $600 million offering of senior secured notes due Feb. 15, 2027 (existing ratings B1/B+) in a Tuesday drive-by trailing a mid-morning conference call with investors, according to market sources.

Initial talk has the notes coming to yield 4¾% to 5%, a bond trader said.

Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC are the joint bookrunners. Apollo Global Securities is the co-manager.

The Rule 144A and Regulation S for life seven-year secured notes become callable after two years at 102.

The Brentwood, Tenn.-based health care provider plans to use the proceeds, along with its incremental term loan B, to refinance its 8¼% senior secured notes due 2023 and its 11½% senior notes due 2024.

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