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Owner of Midstate Hospitals Prices $875M in Bonds

by thiryj

CPBJ Reports – Health Management Associates Inc., a parent company of three midstate hospitals, is issuing $875 million in bonds.  The unsecured senior notes pay 7.375 percent interest and will come due in 2020.  The sale is scheduled to close on Nov. 18.

The company plans to use the money to repay outstanding debt and for general corporate needs, according to the release.  The notes are in addition to Health Management’s proposed loans of $2.1 billion and a revolving credit facility of $500 million.

Based in Florida, Health Management owns Carlisle Regional Medical Center in Cumberland County, Heart of Lancaster Regional Medical Center in Warwick, Lancaster County, and Lancaster Regional Medical Center in Lancaster.  The business operates 66 hospitals in the country.

via Owner of midstate hospitals prices $875M in bonds