debt
confidence high
sentiment neutral
materiality 0.65
Owens & Minor launches $600M senior secured notes offering to finance Rotech acquisition
ACCENDRA HEALTH INC/VA/
- Launched $600M senior secured notes due 2030 in a private placement to QIBs and non-U.S. persons.
- Net proceeds, with cash and a new term loan B, will fund the Rotech acquisition, repay Rotech debt, and pay fees.
- If acquisition does not close concurrently, proceeds go into escrow until conditions, including acquisition close, are met.
- Notes initially secured by escrow, then by same collateral as existing senior facilities after acquisition closes.
- Offering is not conditioned on acquisition completion; acquisition remains subject to customary closing conditions.