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AdaptHealth to price $500 million 8.5-year senior notes on Tuesday; early guidance low 5% area
By Paul A. Harris
Portland, Ore., Dec. 14 – AdaptHealth LLC plans to price a $500 million offering of 8.5-year senior notes (B1) on Tuesday, according to market sources.
Initial guidance is in the low 5% area, a trader said.
Jefferies LLC, Truist Securities Inc., Regions Securities LLC, Citizens Capital Markets Inc., KeyBanc Capital Markets Inc., Fifth Third Securities Inc., Deutsche Bank Securities Inc., RBC Capital Markets Corp. and Janney Montgomery Scott LLC are the joint bookrunners.
The Rule 144A and Regulation S for life notes come with three years of call protection.
The Plymouth Meeting, Pa.-based provider of home health care equipment and medical supplies plans to use the proceeds, along with long-term borrowings and cash on hand, to fund its acquisition of AeroCare Holdings Inc., an Orlando, Fla.-based technology-enabled respiratory and home medical equipment distribution platform.
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