New Issue: LifePoint prices $400 million 10-year notes at par to yield 6 5/8%

By Paul A. Harris

St. Louis, Sept. 20 - LifePoint Hospitals, Inc. priced a $400 million issue of 10-year senior notes (Ba1/BB-) at par to yield 6 5/8% on Monday, according to an informed source.

The yield printed at the tight end of the 6¾% area price talk.

Barclays Capital, Bank of America Merrill Lynch, Citigroup and Goldman Sachs & Co. were the joint bookrunners for the quick-to-market deal.

The Nashville-based hospital company will use the proceeds to refinance its existing credit facilities and for general corporate purposes.

Issuer:	LifePoint Hospitals, Inc.
Amount:	$400 million
Maturity:	Oct. 1, 2020
Securities:	Senior notes
Bookrunners:	Barclays Capital, Bank of America Merrill Lynch, Citigroup, Goldman Sachs & Co.
Co-managers:	SunTrust Robinson Humphrey, Morgan Keegan & Co., Credit Agricole CIB,RBC Capital Markets, Fifth Third Securities, U.S. Bancorp
Coupon:	6 5/8%
Price:	Par
Yield:	6 5/8%
Spread:	392 bps
Call features:	Make-whole at Treasuries plus 50 bps until Oct. 1, 2015, then callable at 103.313, 102.208, 101.104, par on or after Oct. 1, 2018
Equity clawback:	35% at 106.625 until Oct. 1, 2013
Change of control:	Put at 101
Trade date:	Sept. 20
Settlement date:	Sept. 23
Ratings:	Moody's: Ba1
	Standard & Poor's: BB-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	6¾% area

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