Envision Healthcare sets roadshow for $750 million eight-year notes; pricing next week

By Paul A. Harris

Portland, Ore., Nov. 10 – Envision Healthcare Corp. plans to start a roadshow on Monday in New York for a $750 million offering of eight-year senior notes (expected ratings B3/B), according to a market source.

The roadshow moves to Boston on Tuesday and will be marketed to accounts by means of one-on-one telephone calls on Wednesday.

The Rule 144A and Regulation S for life notes are expected to price thereafter.

Barclays is the lead left bookrunner. J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.

BMO Securities, Deutsche Bank Securities Inc. and RBC Capital Markets are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds, together with proceeds from the concurrent term loan, will be used to pay off Envision Healthcare’s existing term loan and ABL facility, as well as to pay off the Amsurg Corp. 5 5/8% notes due 2020 and the Amsurg credit agreement, and for working capital, capital expenditures and other general corporate purposes.

The issuing entity will be New Amethyst Corp., which is to be renamed Envision Healthcare, a health care company with co-headquarters in Nashville, Tenn., and Greenwood Village, Colo.

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