AmSurg holders to waive change-of-control terms for 5 5/8% notes

By Susanna Moon

Chicago, Aug. 18 – AmSurg Corp. secured the needed majority of consents to amend its 5 5/8% senior notes due 2022 in connection with its planned merger, according to an 8-K filing with the Securities and Exchange Commission.

As announced Aug. 8, the issuer requested a waiver to allow it to complete its merger with Envision Healthcare Holdings, Inc. without triggering the change-of-control provision.

The company entered into a supplemental indenture on Aug. 17 with U.S. Bank NA as trustee.

Specifically, AmSurg was seeking to amend the note indenture to include “limited condition acquisition technology,” to amend the definition of change of control to waive any obligation to make a change-of-control offer to repurchase the notes at 101% of par on completion of the merger of AmSurg and Envision and to make other related changes.

The consent solicitation ended at 5 p.m. ET on Aug. 17.

Holders who delivered consents will receive a fee of $2.50 per $1,000 principal amount.

Barclays (800 438-3242 or 212 528-7581), J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, SunTrust Robinson Humphrey Inc., Deutsche Bank Securities Inc., BMO Capital Markets Corp. and RBC Capital Markets, LLC are solicitation agents. D.F. King & Co., Inc. (800 283-3192, 212 269-5550 or amsg@dfking.com) is the information and tabulation agent.

AmSurg is a Nashville, Tenn., operator of ambulatory surgery centers.

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