AdaptHealth guiding $300 million eight-year senior notes in high 6% area, pricing Wednesday

By Paul A. Harris

Portland, Ore., July 14 – AdaptHealth LLC is expected to price a $300 million offering of senior notes due 2028 (B1/B+) on Wednesday, according to market sources.

Initial price talk has the deal coming to yield in the high 6% area.

The offer was playing to $575 million of demand across 32 accounts at midday Tuesday, according to a bond trader who added that demand was being stoked by approximately $350 million of reverse inquiry.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S deal.

The notes come with three years of call protection.

The Plymouth Meeting, Pa.-based provider of home medical equipment, supplies and related services specified in Tuesday's press release that it intends to use the net proceeds from the offering to repay certain of its existing senior secured debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.