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Lifepoint Health Closes Upsized Notes Offering and Completes Settlement of Early Tender Offer
- Client News
- August 14, 2023
Paul, Weiss represented Lifepoint Health, Inc. in its upsized offering of $800 million aggregate principal amount of 9.875% senior secured notes due 2030 in a private offering. Lifepoint will use the net proceeds from the offering, together with cash on hand, to repurchase or redeem all $600 million of the company’s outstanding 6.750% senior secured notes due 2025, repay $200 million of outstanding borrowings under its senior secured term loan credit facility, and pay related fees and expenses. Also, the company repurchased and cancelled $568.6 million (or 95%) of the 6.75% secured notes under the company’s previously announced tender offer and consent solicitation.
The joint book-running managers were led by Citigroup and Barclays, and included Apollo Global Securities, RBC Capital Markets, Goldman Sachs & Co. LLC, J.P. Morgan, Morgan Stanley, Capital One Securities, Deutsche Bank Securities, Wells Fargo Securities, BMO Capital Markets, BofA Securities, Fifth Third Securities, Mizuho, Truist Securities, Regions Securities LLC and Siebert Williams Shank.
The Paul, Weiss team was led by corporate partners Luke Jennings and Brian Janson, and included corporate partner Brian Kim and counsel David Sobel; tax partner Brian Grieve and counsel Sohail Itani; and executive compensation counsel Jake Glazeski.