AMN Healthcare driving by with $325 million 8.5-year senior notes; early guidance 4 3/8% area

By Paul A. Harris

Portland, Ore., Oct. 5 – AMN Healthcare, Inc. plans to price a $325 million offering of 8.5-year senior notes (expected ratings Ba3/BB-) in a Monday drive-by trailing a late-morning conference call with investors, according to market sources.

Initial guidance is in the 4 3/8% area, a trader said.

Truist Securities Inc. is the left bookrunner. BofA Securities Inc., J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are the joint bookrunners.

MUFG, Fifth Third Securities Inc., Wells Fargo Securities LLC, BBVA Securities Inc., BNP Paribas Securities Corp. and KeyBanc Capital Markets Inc. are the co-managers.

The Rule 144A and Regulation S notes become callable after 3.5 years at par plus 50% of the coupon.

The temporary health care staffing company plans to use the proceeds to redeem its 5 1/8% senior notes due 2024.

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