debt
confidence high
sentiment neutral
materiality 0.70
Owens & Minor closes $1B 10% senior secured notes offering to fund Rotech acquisition
ACCENDRA HEALTH INC/VA/
- $1,000,000,000 aggregate principal of 10.000% senior secured notes due 2030 issued.
- Proceeds held in escrow pending consummation of acquisition of Rotech Healthcare Holdings Inc.
- Special mandatory redemption if acquisition not completed by October 6, 2025, at 100% plus accrued interest.
- Notes secured by first-priority lien on escrow; after acquisition, secured by substantially all assets of company and guarantors.
- Restricted covenants apply; investment grade rating would suspend most covenants.