LifePoint Hospitals, Inc. (NASDAQ: LPNT) announced today its intention to sell through a private offering $400 million in aggregate principal amount of Senior Notes due 2020. The Notes will be senior unsecured obligations of the Company and will be guaranteed by substantially all of the Company's subsidiaries that guarantee its senior secured credit facilities.
The Company intends to use the net proceeds of the offering to repay $249.2 million principal amount of Term B loans outstanding under its senior secured credit facilities and for general corporate purposes, which may include the repurchase of its outstanding common stock from time to time pursuant to its 2010 stock repurchase plan.
The Notes and related subsidiary guarantees will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States pursuant to Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Notes and related subsidiary guarantees in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.