Wolverine talks $325 million eight-year notes with 10¾% area yield

By Paul A. Harris

Portland, Ore., May 24 - Wolverine Healthcare Analytics, Inc. talked its $325 million offering of eight-year senior notes (Caa1/CCC+) with a yield in the 10¾% area on Thursday, according to a market source.

That talk would put the yield 75 basis points to 100 bps higher than earlier guidance of 9½% to 9¾%, according to a trader from a high-yield mutual fund.

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

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.