Ardent Health Services upsizes 10-year notes to $200 million, price talk 9¾%-10%

By Paul A. Harris

St. Louis, August 5 - Price talk of 9¾%-10% emerged Tuesday on Ardent Health Services, LLC's upsized offering of $200 million 10-year senior subordinated notes, according to a syndicate source.

The deal, increased from $150 million, is expected to price Thursday morning, the source added.

Banc of America Securities and UBS Investment Bank are joint bookrunners on the Rule 144A deal. Banc One Capital Markets and Merrill Lynch are co-managers.

The notes are rated B3 with a stable outlook by Moody's Investors Service and B- with a negative outlook by Standard & Poor's. They will be non-callable for five years.

Ardent Health will use proceeds to repay existing debt.

The company is a healthcare services provider based in Nashville, Tenn.

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