Quorum Health sets roadshow for $400 million seven-year notes

By Paul A. Harris

Portland, Ore., April 1 – Quorum Health Corp. plans to start a roadshow on Monday for a $400 million offering of seven-year senior notes (Caa1/CCC+), according to a syndicate source.

The Rule 144A and Regulation S with registration rights deal is set to price late in the week ahead.

Credit Suisse Securities (USA) LLC, UBS Investment Bank, BofA Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon and feature a three-year 35% equity clawback and a 101% poison put.

Proceeds will be used to help fund the spinoff of the company from Community Health Systems Inc.

Quorum Health is a Brentwood, Tenn.-based operator and manager of general acute care hospitals and outpatient services

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