NASHVILLE, Tenn.–(BUSINESS WIRE)–Ardent Well being Companies right this moment introduced that AHP Well being Companions, Inc. (“AHP Well being Companions”), a direct majority-owned subsidiary of Ardent Well being Companions, LLC (“Ardent”), has priced its beforehand introduced personal providing of $300 million combination principal quantity of senior unsecured notes due 2029 (the “2029 Notes”). The 2029 Notes had been priced at 100.000% of their face quantity, with a 5.750% coupon. The providing is anticipated to shut on July 8, 2021, topic to satisfaction of customary closing circumstances.
The 2029 Notes might be assured on a senior unsecured foundation by Ardent and sure of its present and future wholly-owned home subsidiaries (apart from AHP Well being Companions) which are guarantors below AHP Well being Companions’ senior secured credit score amenities.
Ardent intends to make use of the online proceeds from the sale of the 2029 Notes, along with money available, to redeem, repay, retire and discharge in full all $475.0 million combination principal quantity of AHP Well being Companions’ excellent 9.75% senior unsecured notes due 2026 (the “2026 Notes”) and pay all associated premiums, accrued curiosity, charges and bills in reference to the foregoing.
The 2026 Notes might be redeemed on July 15, 2021, topic to the completion of a debt financing on phrases and circumstances passable to AHP Well being Companions yielding combination gross proceeds, along with money available and accessible borrowings, enough to fund the redemption fee to the holders of the 2026 Notes. Nothing contained on this press launch constitutes a discover of redemption of the 2026 Notes.
The 2029 Notes and associated ensures are being provided in a non-public providing exempt from the registration necessities of the Securities Act of 1933, as amended (the “Securities Act”). The 2029 Notes and associated ensures are being provided and bought solely to individuals moderately believed to be certified institutional consumers pursuant to Rule 144A below the Securities Act and to sure non-U.S. individuals in transactions outdoors the USA in reliance on Regulation S below the Securities Act. A confidential providing memorandum for the 2029 Notes is being made accessible to such eligible individuals. The providing is being carried out in accordance with the phrases and topic to the circumstances set forth in such providing memorandum.
The supply and sale of the 2029 Notes and associated ensures haven’t been, and won’t be, registered below the Securities Act or the securities legal guidelines of another jurisdiction, and is probably not provided or bought in the USA absent registration or an relevant exemption from the registration necessities.
This press launch is for informational functions solely and shall not represent a proposal to promote or the solicitation of a proposal to purchase the 2029 Notes and associated ensures, nor shall there be any sale of the 2029 Notes and associated ensures in any state or different jurisdiction wherein such supply, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Ardent Well being Companies
Ardent Well being Companies invests in folks, know-how, amenities and communities, specializing in evidence-based practices to enhance high quality care and affected person outcomes. Primarily based in Nashville, Tennessee, Ardent’s subsidiaries function 30 acute care hospitals, together with one managed hospital, two rehabilitation hospitals and two surgical hospitals, in six states. Ardent is owned by an affiliate of Fairness Group Investments (EGI), a Chicago-based personal funding agency; Ventas, Inc. (NYSE: VTR), a publicly-traded actual property funding belief; and present and former members of Ardent’s govt administration crew.
This press launch consists of “forward-looking statements” throughout the that means of the federal securities legal guidelines, that are meant to be coated by the protected harbors created thereby. These forward-looking statements embrace all statements that aren’t historic statements of truth and people statements concerning our intent, perception or expectations together with, however not restricted to, Ardent’s plans, targets and expectations concerning the proposed 2029 Notes providing and using proceeds therefrom, in addition to different statements that aren’t historic information. Phrases reminiscent of “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “would,” “will,” “might,” “can,” “proceed,” “potential,” “ought to” and the unfavourable of those phrases or different comparable terminology usually determine forward-looking statements. Ahead-looking statements contain recognized and unknown dangers and uncertainties that will trigger precise outcomes to vary materially from these anticipated within the forward-looking statements on this press launch. Elements, dangers, and uncertainties that might trigger precise outcomes and outcomes to be materially totally different from these contemplated in such forward-looking statements embrace, amongst others, the impact of the debt markets on the proposed 2029 Notes providing and Ardent’s capacity to fulfill the closing circumstances to such providing. You’re cautioned to not put undue reliance on any forward-looking statements, which converse solely as of the date of this press launch. Besides as in any other case required by legislation, we don’t undertake any obligation to replace or revise any forward-looking statements to replicate adjustments in assumptions, the prevalence of unanticipated occasions, or in any other case.