Prime Healthcare gives early tender results, extends full consideration

Chicago, Aug. 17 – Prime Healthcare Services, Inc. announced the early tender results for its cash tender offer for its 7¼% senior secured notes due in November 2025 (Cusips: 74165HAB4, U7410WAB1) on Wednesday evening in a press release.

The company was conducting a modified Dutch auction for up to a $100 million payment for the notes.

The bid range was from $850 to $920.

As of the early deadline at 5 p.m. ET on Aug. 17, noteholders tendered $10,844,000 of their notes.

The company is paying the upper end of that bid range, $920 per $1,000 note.

The determined total consideration was to include a $50 early premium only paid to noteholders who tendered their notes by the early deadline.

However, on Wednesday the company announced that it will extend the full consideration to the end of the offer.

The withdrawal deadline which was also at the early deadline has not been extended.

The tender offer will expire at 11:59 p.m. ET on Aug. 31.

Settlement is planned for Sept. 2, subject to some conditions.

Barclays Capital Inc. (212 528-7581 or 800 438-3242) is the dealer manager.

D.F. King & Co., Inc. (212 269-5550, 888 869-7406 or primehealthcare@dfking.com) is the information agent and tender agent.

The for-profit acute care hospital operator is based in Ontario, Calif.

© 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.