debt
confidence high
sentiment neutral
materiality 0.60
UHS issues $1.1B senior secured notes in two tranches
UNIVERSAL HEALTH SERVICES INC
- $1.1B senior secured notes: $600M at 5.500% due 2031, $500M at 6.000% due 2036.
- Notes guaranteed by all existing/future subsidiaries that guarantee senior secured credit facility or other first-lien obligations.
- Underwriters: J.P. Morgan, BofA Securities, Truist, U.S. Bancorp, Wells Fargo; J.P. Morgan also financial advisor on Talkspace acquisition.
- Proceeds to repay outstanding revolving credit facility borrowings; some underwriters may receive portion of proceeds.
- Underwriting agreement includes customary representations, warranties, covenants, and indemnification provisions.