LifePoint Health talks $1 billion seven-year senior secured notes to yield 11%; pricing Friday

By Abigail W. Adams

Portland, Me., Sept. 29 – LifePoint Health Inc. plans to price $1 billion of seven-year senior secured notes (B2/B) in a Friday drive-by with price talk for a yield of 11%, according to a market source.

Books close at 2 p.m. ET on Friday with pricing expected thereafter.

Barclays is leading the Rule 144A and Regulation S for life offering.

The notes are non-callable for three years.

There is a 40% equity clawback and a 101 poison put.

Proceeds will be used to repay a portion of the company’s term loan B due 2025.

LifePoint Health is a Brentwood, Tenn.-based health care provider.

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