Truven postpones exchange offer for 10 5/8% notes, increases coupon

By Marisa Wong

Madison, Wis., Feb. 4 - Truven Health Analytics Inc. said it is postponing a planned exchange offer for its 10 5/8% senior notes due 2020.

The company said it expects to begin the exchange offer in early May.

The notes were issued in a Rule 144A transaction on June 6, 2012 in connection with Veritas Capital's acquisition of Truven. At that time Truven entered into a registration rights agreement requiring the company to conduct an exchange offer of Securities and Exchange Commission-registered notes for the 10 5/8% notes.

The company said it has delayed the exchange offer in order to focus its efforts on completing the transition to a standalone entity and to prepare financial statements for the year ended Dec. 31.

Under the registration rights agreement, additional interest of 25 basis points will accrue on the notes beginning March 4 until and including the date the exchange offer is completed.

Truven is an Ann Arbor, Mich.-based provider of health care data and data analytics.

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