Surgery Partners Announces Pricing of New Note Offering
28 März 2019 - 10:36PM
Surgery Partners, Inc. (NASDAQ:SGRY) (“Surgery
Partners”) a leading provider of surgical services, today announced
that its wholly-owned subsidiary, Surgery Center Holdings, Inc.
(the “Issuer”), priced $430,000,000 aggregate principal amount of
its 10.000% senior unsecured notes due 2027 (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 April
11, 2019, 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, together with cash on the balance sheet, to redeem all of
the Issuer’s outstanding 8.875% senior unsecured notes due April
15, 2021, to pay the accrued interest and the redemption premium
for such notes and to pay related fees and expenses in connection
with this offering and such redemption.
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.
About Surgery Partners, Inc.
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 150 locations in
29 states, including ambulatory surgical facilities, surgical
hospitals, a diagnostic laboratory, multi-specialty physician
practices and urgent care facilities.
Forward-Looking Statements
This press release contains forward-looking statements,
including those regarding the expected closing of the notes
offering and Surgery Partners’ intention to apply the net proceeds
of the notes. These statements can be identified by the use of
words such as “believes,” “anticipates,” “expects,” “intends,”
“plans,” “continues,” “estimates,” “predicts,” “projects,”
“forecasts,” and similar expressions. All forward looking
statements are based on current expectations and beliefs as of the
date of this release and are subject to risks, uncertainties and
assumptions that could cause actual results or events to differ
materially from those discussed in, or implied by, the
forward-looking statements, including but not limited to, the risk
that the proposed offering and related redemption is not
consummated and the other risks identified in Item 1A under the
heading “Risk Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2018, filed on March 15, 2019.
Except as required by law, neither Surgery Partners, nor the
Issuer, undertakes any obligation to revise or update publicly any
forward-looking statements to reflect events or circumstances after
the date of this report, or to reflect the occurrence of
unanticipated events or circumstances.
Investors:
Thomas F. Cowhey, Chief Financial OfficerSurgery Partners, Inc.
(615)234-8940IR@surgerypartners.com
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