England's Priory Group to sell £600 million seven-, eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 24 - Priory Group Ltd. began marketing £600 million of high-yield notes on Monday, according to an informed source.

The deal features a £425 million tranche of seven-year senior secured notes, which come with three years of call protection, and £175 million of eight-year senior notes, which come with four years of call protection.

Deutsche Bank, the Royal Bank of Scotland and Credit Suisse are the joint bookrunners for the Rule 144A and Regulation S notes. RBC Capital Markets is the co-manager.

Proceeds will be used to finance the acquisition of Priory by Advent International.

Priory is an independent provider of mental health care facilities in the United Kingdom.

© 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.