Brentwood, Tenn.-based LifePoint Hospitals is looking to amend $400 million in bonds so it can have more "flexibility to make acquisitions and joint ventures."
According to a news release, LifePoint is asking permission from bondholders who have a stake in LifePoint's senior notes due in 2020 to adjust terms of the notes. The notes carry a 6.6 percent interest rate and have a principal amount of $400 million.
LifePoint said it is looking to eliminate the requirement that "non-wholly owned subsidiaries provide guarantees in respect of the notes and modify the requirements needed to exclude certain wholly owned subsidiaries from having to provide note guarantees."
The consent solicitation, which expires Aug. 12, requires a majority approval from bondholders.
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