LifePoint Health to price $400 million eight-year notes on Thursday; early yield guidance is 5½%

By Paul A. Harris

Portland, Ore., May 12 – LifePoint Health, Inc. plans to price a $400 million offering of eight-year senior notes (current ratings Ba2/BB-) on Thursday trailing a mid-morning conference call with investors, according to a syndicate source.

The deal is in the market with early yield guidance of 5½%, according to a trader, who added that it will come tighter than that.

Goldman Sachs & Co. is the left bookrunner for the Rule 144A with registration rights and Regulation S offering. BofA Merrill Lynch, Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and UBS Investment Bank are the joint bookrunners.

The notes come with three years of call protection.

The Brentwood, Tenn.-based health care services provider plans to use the proceeds, together with cash on hand, to redeem the entire $400 million of its outstanding 6 5/8% senior notes due 2020.

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