Published on 9/26/2019 in the Prospect News High Yield Daily.
New Issue: AMN Healthcare prices $300 million 4 5/8% eight-year notes at par
By Paul A. Harris
Portland, Ore., Sept. 26 – AMN Healthcare, Inc. priced a $300 million issue of eight-year senior notes (Ba2/BB-) at par to yield 4 5/8% in a quick-to-market Thursday trade, according to market sources.
The yield printed at the tight end of yield talk in the 4¾% area, as well as initial guidance in the high 4% area.
SunTrust Robinson Humphrey Inc. was the left bookrunner. Joint bookrunners were BofA Securities Inc. and J.P. Morgan Securities LLC.
The San Diego-based health care staffing services provider plans to use the proceeds to refinance debt under its current credit facilities.
| Issuer: | AMN Healthcare, Inc.
|
| Amount: | $300 million
|
| Maturity: | Oct. 1, 2027
|
| Securities: | Senior notes
|
| Left bookrunner: | SunTrust Robinson Humphrey Inc.
|
| Joint bookrunners: | BofA Securities Inc. and J.P. Morgan Securities LLC
|
| Co-managers: | MUFG, Wells Fargo Securities LLC, Fifth Third Securities Inc., Goldman Sachs & Co. LLC, BBVA Securities Inc., BNP Paribas Securities Corp. and KeyBanc Capital Markets LLC
|
| Coupon: | 4 5/8%
|
| Price: | Par
|
| Yield: | 4 5/8%
|
| First call: | Oct. 2, 2022 at 102.313
|
| Trade date: | Sept. 26
|
| Settlement date: | Oct. 1
|
| Ratings: | Moody's: Ba2
|
| S&P: BB-
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 4¾% area
|
| Marketing: | Quick to market
|
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