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AdaptHealth talks $550 million 8.5-year notes to yield in 5¼% area; pricing Thursday
By Paul A. Harris
Portland, Ore., Aug. 12 – AdaptHealth LLC talked its $550 million offering of 8.5-year senior notes (B1/B) to yield in the 5¼% area, according to a syndicate source.
Books close at 1:30 p.m. ET on Thursday, and the deal is set to price thereafter.
Jefferies LLC, BofA Securities Inc., Citizens Capital Markets Inc., Deutsche Bank Securities Inc., Fifth Third Securities Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., Truist Securities Inc. and J.P. Morgan Securities LLC are the joint bookrunners.
The Rule 144A and Regulation S for life notes come with 3.5 years of call protection.
The Conshohocken, Pa., provider of home health care products and services plans to use the proceeds to refinance its outstanding promissory notes, term out its current revolver and fund cash to the balance sheet to support its acquisition pipeline.
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