AmSurg starts roadshow for $880 million eight-year notes offering

By Paul A. Harris

Portland, Ore., June 30 – AmSurg Corp. began marketing an $880 million offering of eight-year senior notes on Monday, according to a syndicate source.

The deal is being guided in a mid-to-high 5% yield context.

Investor meetings were scheduled for Monday afternoon in New York and Tuesday in Boston.

An investor dial-in was set for 2:30 p.m. ET Monday.

The deal is expected to price Tuesday.

Citigroup Global Markets, SunTrust Robinson Humphrey, BofA Merrill Lynch, Jefferies LLC and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S with registration rights offer.

Fifth Third, J.P. Morgan Securities LLC, KeyBanc Capital Markets, Mitsubishi UFJ, US Bancorp, Barclays, BBVA Compass, Deutsche Bank Securities Inc., Goldman Sachs & Co., First Tennessee and Raymond James are the co-managers.

The notes come with three years of call protection.

Proceeds, along with cash on hand, will be used to repay debt under the company’s revolver, to repay its senior secured notes due 2020, and to help fund AmSurg’s acquisition of Sheridan Healthcare.

AmSurg is a Nashville-based acquirer, developer and operator of ambulatory surgery centers.

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