Wolverine Healthcare starts roadshow for $325 million eight-year notes

By Paul A. Harris

Portland, Ore., May 21 - Wolverine Healthcare Analytics, Inc. began a roadshow for a $325 million offering of eight-year senior notes (expected ratings Caa1/CCC+) on Monday, according to a market source.

The Rule 144A and Regulation S with registration rights deal is expected to price on Friday.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Morgan Stanley & Co. LLC and UBS Investment Bank are the joint bookrunners.

The notes come with four years of call protection.

Proceeds will be used to help fund the buyout of Thomson Reuters (Healthcare) Inc. by Veritas Capital.

Wolverine Healthcare Analytics, which will be merged with and into Thomson Reuters (Healthcare), is a provider of data, analytics and performance benchmarking services to hospitals, health systems, employers, health plans, government agencies and health care professionals.

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