Methodist Healthcare cancels tender offer

By Laura Lutz

Des Moines, April 10 - Methodist Healthcare - Memphis Hospitals announced the termination of a tender offer for some of its bonds and said that no tenders will be accepted.

All tendered bonds will be promptly returned to their holders, the company said.

Originally set to expire on March 24, the tender offer had been extended to 5 p.m. ET on April 9.

The offer applied to the system's series 1985C bonds maturing in 2014; all maturities of its series 1995 bonds; and its series 1998 bonds maturing in 2011, 2012, 2013 and 2018.

As of the close of business on March 24, Methodist had received tenders for:

• $1.09 million, or 13.6%, of $8.005 million outstanding principal amount of bonds with CUSIP 821692PG9;

• $4.768 million, or 74%, of $6.445 million outstanding bonds with CUSIP 821692QQ6;

• $4.715 million, or 65.9%, of $7.16 million outstanding bonds with CUSIP 821692QR4;

• $3.805 million, or 89.2%, of $4.265 million outstanding bonds with CUSIP 821692PW4;

• $3.56 million, or 82.3%, of $4.325 million outstanding bonds with CUSIP 821692PX2;

• $3.57 million, or 81.3%, of $4.39 million outstanding bonds with CUSIP 821692PY0; and

• $32 million, or 74.3%, of $43.085 million outstanding bonds with CUSIP 821692PZ7.

JPMorgan was acting as dealer manager for the tender offer. D.F. King & Co. Inc. (800 949-2583) was the information agent.

Methodist operates five hospitals in the Memphis area.

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