Universal Health Services selling $600 million secured notes Tuesday

By Paul A. Harris

Portland, Ore., July 29 – Universal Health Services, Inc. plans to price $600 million of senior secured notes on Tuesday, according to a market source.

The deal is coming in two $300 million tranches, one of non-callable notes due 2019, the other of notes maturing in 2022, which come with three years of call protection.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Goldman Sachs & Co. and SunTrust Robinson Humphrey Inc. are the joint bookrunners for the private offering.

Credit Agricole CIB, Deutsche Bank Securities Inc., Mizuho, RBC Capital Markets, Wells Fargo Securities LLC and MUFG are the senior co-managers.

Fifth Third Bank, PNC Capital Markets, Santander, SMBC Nikko and TD Securities are the co-managers.

The King of Prussia, Pa.-based hospital company plans to use the proceeds to refinance debt.

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