Health Management Associates to sell $1 billion eight-year notes

By Paul A. Harris

Portland, Ore., Nov. 1 - Health Management Associates, Inc. plans to sell $1 billion of eight-year senior notes (B3/B-/), according to informed sources.

Deutsche Bank Securities Inc. will be the left bookrunner in a syndicate of banks that includes Wells Fargo Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc. and SunTrust Robinson Humphrey Inc.

Timing remains to be determined; however, it is likely the deal will be rolled out during the Nov. 7 week, a syndicate source said.

In addition to the Rule 144A and Regulation S bond offering, the company is putting in place $2.7 billion of credit facilities.

The Naples, Fla.-based operator of acute-care hospitals plans to use the proceeds, together with initial borrowings under its term loans and revolver, to repay a portion of its outstanding credit facilities, as well as for general corporate purposes.

© 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.