Iasis Healthcare to launch $935 million eight-year notes April 25 week

By Paul A. Harris

Portland, Ore., April 18 - Iasis Healthcare LLC is expected to launch a $935 million offering of eight-year senior notes during the April 25 week, according to an informed source.

Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC will be the joint bookrunners for the Rule 144A and Regulation S offering.

The company is concurrently in the market with a $1.235 billion credit facility.

Proceeds will be used to refinance bank debt, to fund a tender offer for the 8¾% senior subordinated notes, to repay senior PIK loans and for general corporate purposes, including the proposed acquisition of St. Joseph Medical Center, future acquisitions and strategic growth initiatives, as well as potential distributions to equity holders.

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

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