Published on 9/23/2016 in the Prospect News High Yield Daily.
New Issue: AMN Healthcare prices upsized $325 million eight-year notes at par to yield 5 1/8%
By Paul A. Harris
Portland, Ore., Sept. 23 – AMN Healthcare, Inc. priced an upsized $325 million issue of eight-year senior notes (Ba3/B+) at par to yield 5 1/8% on Friday, according to a syndicate source.
The issue size was increased from $300 million.
The yield came at the tight end of yield talk in the 5¼% area.
SunTrust Robinson Humphrey Inc. was the left bookrunner. BofA Merrill Lynch and J.P. Morgan Securities LLC were joint bookrunners.
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.
| Issuer: | AMN Healthcare, Inc.
|
| Amount: | $325 million, increased from $300 million
|
| Maturity: | Oct. 1, 2024
|
| Securities: | Senior notes
|
| Left bookrunner: | SunTrust Robinson Humphrey Inc.
|
| Joint bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC
|
| Senior co-manager: | Wells Fargo Securities LLC
|
| Co-managers: | MUFG, BBVA, Fifth Third Bank, KeyBanc Capital Markets
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Call: | Make-whole call at Treasuries plus 50 bps until Oct. 1, 2019, then callable at 103.844
|
| Equity clawback: | 40% at 105.125 until Oct. 1, 2019
|
| Trade date: | Sept. 23
|
| Settlement date: | Oct. 3
|
| Ratings: | Moody's: Ba3
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5¼% area
|
| Marketing: | Roadshow
|
© 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.
