Emdeon starts roadshow for $250 million offering of 5.5-year notes backing Altegra acquisition

By Paul A. Harris

Portland, Ore., Aug. 4 – Emdeon Inc. began a short roadshow for its $250 million offering of 5.5-year senior notes (Caa1/CCC+) on Tuesday, according to a syndicate source.

A New York investor lunch and an investor conference call are scheduled for noon ET on Tuesday.

A Boston investor lunch is scheduled for noon ET on Wednesday.

The Rule 144A for life deal is set to price thereafter.

Initial guidance is in the low 6% yield context, according to a market source.

Citigroup Global Markets Inc., BofA Merrill Lynch, Deutsche Bank Securities Inc., Goldman Sachs & Co., Jefferies LLC, Mizuho and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The notes become callable after two years at par plus 75% of coupon and feature a two-year 40% equity clawback and a 101% poison put.

The Nashville, Tenn.-based provider of billing and information services to the health care sector plans to use the proceeds to help fund its acquisition of Altegra Health, Inc., a Miami Lakes, Fla.-based provider of payment solutions to health care providers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.