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HealthSouth plans $175 million tap of 5¾% notes due 2024 on Thursday
By Paul A. Harris
Portland, Ore., Sept. 4 – HealthSouth Corp. plans to price a $175 million add-on to its 5¾% senior notes due 2024 (existing ratings Ba3/BB-) on Thursday, according to a syndicate source.
Barclays is the lead left bookrunner for the public offering.
BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners.
The notes become callable Nov. 1, 2017 at 102.875.
The Birmingham, Ala.-based owner and operator of hospitals plans to use the proceeds to repay its existing 7¼% notes due 2018.
The original $275 million issue priced at par in September 2012.
The add-on notes will be immediately fungible with the original notes.
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