Here are five key notes:
1. The company previously priced $400 million aggregate principal amount of 8.872 percent senior unsecured notes is due 2021 and is expected to close on March 31.
2. The offering is subject to customary closing conditions.
3. The notes will be guaranteed on a senior unsecured basis by each domestic wholly owned subsidiary of Surgery Center Holdings, guaranteeing Surgery Center Holdings’ obligations under its senior secured credit facilities.
4. Surgery Partners will use the net proceeds to repay the borrowings outstanding under its senior secured second lien credit facilities. The company will also repay the outstanding balance on its revolving credit facilities and fees and expenses associated with this offering and for general corporate purposes.
5. Surgery Partners was founded in 2004 and currently includes more than 140 surgical service businesses in 29 states. The company owns ambulatory surgery centers, surgical hospitals, a diagnostic laboratory, multispecialty physician practices and urgent care facilities.
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