Vanguard Health to redeem $95.2 million of 10 3/8% notes due 2016

By Toni Weeks

San Diego, July 12 - Vanguard Health Systems, Inc. announced it will redeem for cash $95.2 million, or 12.74%, of its $747,219,000 of 10 3/8% senior discount notes due Feb. 1, 2016 on Aug. 11, according to a filing with the Securities and Exchange Commission.

The notes will be redeemed at a price of 105 of the accreted value of the notes.

Following the redemption, roughly $14.8 million accreted value of the notes will remain outstanding. On June 22, Vanguard announced it would redeem about $628.8 million, or 84.15%, of the notes on July 22. The notes were originally issued in January 2011.

The paying agent and trustee, U.S. Bank NA (800 934-6802), will select the actual notes for redemption by lot, pro rata or by any method deemed fair and appropriate. Notes of $2,000 or less will not be redeemed in part.

Vanguard is a Nashville-based owner and operator of acute care hospitals and complementary facilities and services.

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