Health Management to launch $2.7 billion credit facility on Wednesday

By Sara Rosenberg

New York, Oct. 31 - Health Management Associates Inc. is scheduled to hold a bank meeting on Wednesday to launch a proposed $2.7 billion credit facility, according to a market source.

Wells Fargo Securities LLC, Deutsche Bank Securities Inc., Citigroup Global Markets Inc., SunTrust Robinson Humphrey Inc. and Barclays Capital Inc. are the joint lead arrangers on the deal, with Wells Fargo and Deutsche the bookrunners. Morgan Stanley & Co. LLC is a senior managing agent.

The facility consists of a $500 million five-year revolver, a $1 billion five-year term loan A and a $1.2 billion seven-year term loan B, the source said.

Proceeds will be used to refinance existing debt.

Health Management is a Naples, Fla.-based operator of acute care hospitals.

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