Surgical Care to redeem 10% notes with initial public offering proceeds

By Tali David

Minneapolis, Sept. 5 - Surgical Care Affiliates, Inc. plans to redeem all $150 million aggregate principal amount of its 10% senior subordinated notes due July 15, 2017 with the proceeds from its initial public offering of common stock, according to an S-1 filed with the Securities and Exchange Commission.

The notes will be redeemed at 103.333 plus accrued interest through the redemption date.

Remaining proceeds will be used for general corporate purposes.

Surgical Care is a Birmingham, Ala.-based operator of surgical facilities.

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