Universal Health Services prices USD 1.1 billion senior secured notes offering
UHS•Terms, maturities and security
The notes mature on Sept. 1, 2031 and Sept. 1, 2036. Interest will be paid on March 1 and Sept. 1, starting March 1, 2027.
The debt is guaranteed by subsidiaries that guarantee the senior secured credit facility and is secured by first-priority liens on specified assets.
Redemption and change-of-control provisions
The issuer can redeem the notes before Aug. 1, 2031 or June 1, 2036 with a make-whole premium. A change-of-control put is available at 101% if downgraded.
Universal Health Services prices senior secured notes
Universal Health Services priced a US$1.1 billion senior secured note offering, adding new secured financing to its capital structure.
The deal includes US$600 million of 5.5% Senior Secured Notes due 2031 and US$500 million of 6% Senior Secured Notes due 2036.
