AmSurg talks $250 million eight-year notes with 5¾% area yield

By Paul A. Harris

Portland, Ore., Nov. 14 - AmSurg Corp. set yield talk for its $250 million offering of eight-year senior notes (Ba3/B) in the 5¾% area on Wednesday, according to a syndicate source.

The books close at 5 p.m. ET Wednesday, except for accounts with meetings scheduled for late Wednesday and early Thursday.

SunTrust Robinson Humphrey Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the joint bookrunners.

BB&T Capital Markets, Fifth Third Securities Inc., Goldman Sachs & Co, KeyBanc Capital Markets, Mitsubishi UFJ Securities, US Bancorp and Synovus Securities Inc. are the co-managers.

The Rule 144A with registration rights notes become callable in three years at par plus 75% of the coupon. However a special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.

Proceeds will be used to refinance the company's senior secured credit facilities.

AmSurg is a Nashville, Tenn.-based operator of short-stay ambulatory surgery centers with 231 surgery centers in 35 states and the District of Columbia.

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