LifePoint Health driving by with $500 million notes due January 2029; talk high 5% area to 6%

By Paul A. Harris

Portland, Ore., Nov. 30 – LifePoint Health, Inc. plans to price a $500 million offering of senior notes due Jan. 15, 2029 in a Monday drive-by following a mid-morning conference call with investors, according to market sources.

Initial guidance has the notes coming to yield in the high 5% area to 6%, a trader said.

Barclays, BofA Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Wells Fargo Securities LLC and Williams Capital Group LP are the joint bookrunners.

Apollo Global Securities is the co-manager.

The Rule 144A and Regulation S for life notes have a tenor of 8.1 years and become callable after Jan. 15, 2024 at par plus 50% of the coupon.

The Brentwood, Tenn.-based health care provider plans to use the proceeds to pay down its term loan B.

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