Hill-Rom expected to sell $500 million notes July 27 week to help fund Welch Allyn acquisition

By Paul A. Harris

Portland, Ore., July 21 – Hill-Rom Holdings Inc. plans to come to market with a $500 million offering of senior notes in the week ahead, according to a market source.

The deal comes with initial guidance in the high 5% to low 6% yield context.

Goldman Sachs will lead a syndicate of banks, with other names to be announced.

Hill-Rom launched a $2,225,000,000 senior secured credit facility via Goldman Sachs, J.P. Morgan Securities LLC, BofA Merrill Lynch, Citizens Bank and PNC Capital Markets LLC on Tuesday.

Proceeds will be used to help fund the acquisition of Skaneateles Falls, N.Y.-based medical diagnostic equipment manufacturer Welch Allyn Inc.

Hill-Rom is a Chicago-based medical technology company.

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