Medline buyout financing to include $7.8 billion junk bonds, possible Sept. 20 week business

By Paul A. Harris

Portland, Ore., Sept. 16 – Medline Industries plans to come to the new issue market with a mammoth $7.8 billion offering of junk bonds backing the buyout of the company by Blackstone, Carlyle and Hellman & Friedman., a market source said on Thursday.

The deal is expected to feature $3.8 billion of secured notes and $4 billion of unsecured notes.

BofA Securities Inc. will lead.

The buyout financing also includes $7 billion equivalent of term loan debt set to kick off on a Monday lender call.

The bonds could follow soon on the heels of the bank debt, the market source said.

The buyout is expected late this year.

Medline is a Northfield, Ill.-based manufacturer and distributor of health care supplies to hospitals, post-acute settings, physician offices and surgery centers.

© 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.