AMN Healthcare launches upsized $325 million 5 1/8% eight-year notes at par; pricing shortly

By Paul A. Harris

Portland, Ore., Sept. 23 – AMN Healthcare, Inc. launched an upsized $325 million offering of 5 1/8% eight-year senior notes (Ba3/B+) at par, according to an informed source.

The deal, which was upsized from $300 million, is set to price shortly.

The launch comes at the tight end of yield talk in the 5¼% area.

SunTrust Robinson Humphrey Inc. is the left bookrunner for the Rule 144A and Regulation S for life deal. BofA Merrill Lynch and J.P. Morgan Securities LLC are the joint bookrunners.

Wells Fargo Securities LLC is the senior co-manager. MUFG, BBVA, Fifth Third Bank and KeyBanc Capital Markets are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

The San Diego-based health care staffing and workforce services company plans to use the proceeds, including those additional proceeds which result from the $25 million upsizing of the deal to repay its credit facility.

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