Surgery Partners Announces Pricing of $400 Million Senior Note Offering
30 März 2016 - 2:30AM
Surgery Partners, Inc. (NASDAQ:SGRY) today announced that its
wholly owned subsidiary, Surgery Center Holdings, Inc.
(collectively, “Surgery Partners”), priced $400,000,000 aggregate
principal amount of 8.875% senior unsecured notes due 2021 (the
“notes”) in a previously announced private offering exempt from the
registration requirements of the Securities Act of 1933, as amended
(the "Securities Act"). The offering is expected to close on March
31, 2016, subject to certain customary closing conditions. The
notes will be guaranteed (the “guarantees”) on a senior unsecured
basis by each domestic wholly owned subsidiary of Surgery Center
Holdings, Inc. that guarantees Surgery Center Holdings, Inc.’s
obligations under its senior secured credit facilities.
Surgery Partners intends to use the net proceeds from this
offering to repay the borrowings outstanding under its senior
secured second lien credit facility, to repay the outstanding
balance on its revolving credit facility, to pay fees and expenses
associated with this offering and for general corporate
purposes.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy securities, nor shall there be any
offer, solicitation or sale in any jurisdiction in which, or to any
person to whom, such offer, solicitation or sale would be unlawful.
The notes and the guarantees are being offered and sold only to
“qualified institutional buyers” in the United States pursuant to
Rule 144A under the Securities Act, and to non-U.S. persons outside
the United States in reliance on Regulation S under the Securities
Act. The notes and the guarantees have not been, and will not be,
registered under the Securities Act or any state securities laws
and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state laws.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995 relating to the expected
closing of the notes offering and Surgery Partners’ intention to
apply the resulting net proceeds. Such statements are based on
current expectations and beliefs only, and involve risks and
uncertainties and assumptions relating to our operations, financial
condition, business, prospects, growth strategy and liquidity, the
realization of which may cause our actual results to differ
materially from those projected by such forward-looking statements.
The forward-looking statements made in this press release are made
only as of the date of the hereof. Except as required by law,
Surgery Partners undertakes no obligation to update any
forward-looking statement, whether as a result of new information
or otherwise.
About Surgery Partners
Headquartered in Nashville, Tennessee, Surgery Partners is a
leading healthcare services company with a differentiated
outpatient delivery model focused on providing high quality, cost
effective solutions for surgical and related ancillary care in
support of both patients and physicians. Founded in 2004, Surgery
Partners is one of the largest and fastest growing surgical
services businesses in the country, with more than 140 locations
across 29 states, including ambulatory surgery centers, surgical
hospitals, a diagnostic laboratory, multi-specialty physician
practices and urgent care facilities.
Contact
Teresa Sparks, CFO
Surgery Partners, Inc.
(615) 234-8940
IR@surgerypartners.com
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