RegionalCare sets set roadshow for $1.58 billion eight-year notes

By Abigail W. Adams

Portland, Me., Nov. 2 – RegionalCare Hospital Partners Holdings, Inc. and LifePoint Health, Inc. plan to start a roadshow on Tuesday for a $1,575,000,000 offering of eight-year senior notes, according to a market source.

The roadshow will run from Tuesday until Nov. 9 with pricing expected thereafter.

Barclays is left lead for the Rule 144A for life deal. Citigroup Global Markets Inc., RBC Capital Markets LLC, Deutsche Bank Securities Inc. and UBS Securities LLC are joint bookrunners.

The notes are non-callable for three years with first call at par plus 50% of the coupon. There is an equity clawback of up to 40% at par plus the coupon during the no-call period.

There is a poison put of 101%.

Proceeds will be used to finance the acquisition of LifePoint Health by Apollo Global Management LLC for its merger with RegionalCare.

RegionalCare Hospital Partners and LifePoint Health are Brentwood, Tenn.-based owners and operators of hospitals and health care services.

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