U.S. Acute Care to price $800 million five-year secured notes; early guidance 10¼% yield

By Abigail W. Adams

Portland, Me., April 29 – U.S. Acute Care Solutions LLC plans to price $800 million of five-year senior secured notes (B3/B-) with early guidance for a coupon in the high 9% area and a discounted offer price to yield 10¼%, according to market sources.

The notes are non-callable for two years.

There will be an investor call at 11 a.m. ET on Monday with pricing expected on Tuesday.

Barclays, Deutsche Bank Securities Inc., KeyBanc Capital Markets Inc., J.P. Morgan Securities LLC and Capital One Securities Inc. are bookrunners for the Rule 144A and Regulation S for life offering.

Proceeds will be used to refinance the company’s senior secured notes and repay borrowings under the revolving credit facility.

U.S. Acute Care Solutions is a Canton, Ohio-based physician-owned emergency medicine, hospital and observation services provider.

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