Surgery Partners sets roadshow for $400 million five-year note offer

By Paul A. Harris

Portland, Ore., March 18 – Surgery Center Holdings, Inc. plans to start a roadshow on Monday in Los Angeles for a $400 million offering of five-year senior notes, according to a syndicate source.

The roadshow continues on Tuesday in New York and on Wednesday in Boston.

The Rule 144A and Regulation S for life deal is set to price early in the March 28 week.

Jefferies LLC is the left bookrunner. BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. are the joint bookrunners.

Citigroup Global Markets, Credit Suisse Securities (USA) LLC, Raymond James and Stifel are the co-managers.

The notes become callable after two years at par plus 75% of the coupon.

Credit ratings remain to be determined.

The issuer is a subsidiary of Nashville, Tenn.-based Surgery Partners, Inc., a provider of surgery and related health care services. It plans to use the proceeds to repay its existing second-lien debt, as well as to pay down its revolver and for general corporate purposes.

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