Quorum Health Corporation Announces Pricing of $400 Million Senior Notes Offering
04/08/16
Proceeds from the offering will be deposited into an escrow account to be released upon the satisfaction of certain conditions relating to the spin-off (the “Escrow Release”). If the spin-off is not consummated, the Company will be required to redeem the Notes at a redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest to the redemption date.
The Notes will be unsecured senior obligations of the Company and, following the Escrow Release, will be guaranteed by certain of the Company’s domestic subsidiaries.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About
Forward-Looking Statements
Certain statements contained in this communication may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include, but
are not limited to, statements regarding the expected completion of the
spin-off transaction, the issuance of the Notes, the Company’s
expectation of the aggregate principal amount of the Notes to be sold,
the Company’s intended use of the proceeds of the Notes offering, and
other events and statements that are not historical facts. These
forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from the statements
made. There can be no assurance that the proposed spin-off transaction,
the Notes offering or other future events will occur as anticipated, if
at all, or that actual results will be as expected. Such differences may
result from a number of factors, including but not limited to: the
timing and completion of the proposed spin-off transaction; the timing
and completion of the Notes offering; the timing and entry by the
Company into the term and revolving credit facility; a failure to obtain
assurances of anticipated tax treatment for the proposed spin-off
transaction; a deterioration in the business or prospects of the
Company; adverse developments in the Company’s markets; adverse
developments in the U.S. or global capital markets, credit markets or
economies generally; risks associated with the Company’s substantial
indebtedness, leverage and debt service obligations; and changes in
regulatory, social and political conditions. Additional risks and
factors that may affect results are set forth in the Company’s filings
with the
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Source:
Quorum Health Corporation
Thomas D. Miller
President and Chief
Executive Officer
or
Michael J. Culotta, 615-465-7037
Executive
Vice President and Chief Financial Officer