U.S. Acute Care Solutions to price $125 million tap of 6 3/8% notes due 2026 on Monday

By Paul A. Harris

Portland, Ore., Aug. 16 – U.S. Acute Care Solutions, LLC plans to price a $125 million add-on to its 6 3/8% senior secured notes due March 1, 2026 in a Monday drive-by trailing a conference call with investors, according to a market source.

Barclays is the left bookrunner for the Rule 144A and Regulation S for life offering. Deutsche Bank Securities Inc., Capital One Securities Inc. and Apollo Global Securities LLC are the joint bookrunners.

The notes become callable on March 1, 2023 at 103.188.

The Canton, Ohio-based physician-owned emergency medicine, hospital and observation services provider plans to use the proceeds plus balance sheet cash to redeem a portion its preferred equity units at par (20% of the original amount) and to finance a common dividend.

The original $375 million issue price in February 2021.

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