Halyard sets Monday investor call for $250 million notes offering

By Paul A. Harris

Portland, Ore., Sept. 26 – Halyard Health, Inc. scheduled an investor conference call at 10:30 a.m. ET on Monday to discuss a $250 million offering of senior notes (B2/B+), according to a syndicate source.

The Rule 144A with registration rights deal will be on a roadshow in New York on Monday and in Boston on Tuesday and is expected to price late in the week ahead.

The tenor of the bonds remains to be announced.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBC Capital Markets are the joint bookrunners. BBVA, BMO Securities, MUFG and U.S. Bancorp Investments Inc. are the co-managers.

The deal is part of the financing for Kimberly-Clark Corp.’s spinoff of its Halyard Health subsidiary, which is set to close at the end of October.

Debt financing for the spinoff also includes $640 million of bank debt.

Alpharetta, Ga.-based Halyard Health is a health care company focused on preventing infection, eliminating pain and speeding recovery.

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