Mariner Health Care to launch $175 million 10-year notes on Wednesday

By Paul A. Harris

St. Louis, Dec. 2 - Mariner Health Care, Inc. will begin a roadshow Wednesday for an offering of $175 million of senior subordinated notes due 2013, according to a syndicate source.

The deal is expected to price on Dec. 12.

CIBC World Markets, JP Morgan and Lehman Brothers are joint bookrunners on the Rule 144A offering.

The 10-year notes will be non-callable for five years.

Mariner will use proceeds, along with a new $220 million credit facility, to repay borrowings under its existing credit facility and its second priority secured notes, and for general corporate purposes

The company is an Atlanta, Ga.-based owner-operator of skilled nursing and assisted living facilities, and long-term acute care hospitals.

© 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.