Iasis Healthcare to start roadshow Tuesday for $475 million 10-year notes

By Paul A. Harris

St. Louis, May 27 - Iasis Healthcare LLC, in conjunction with Iasis Capital Corp., will start a roadshow Tuesday for a $475 million offering of 10-year senior subordinated notes (B-), according to a syndicate source.

The roadshow is set to conclude on June 9.

Banc of America Securities, Citigroup, Goldman Sachs & Co., Merrill Lynch & Co. and Lehman Brothers are joint bookrunners for the Rule 144A offering.

Proceeds will be used to help fund the acquisition of Iasis by Texas Pacific Group from JLL Partners in a transaction valued at about $1.4 billion. The acquisition is expected to close by June 30.

Iasis is a Franklin, Tenn., owner and operator of medium-sized acute care hospitals.

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