Nashville, Tenn.-based Vanguard Health Systems has announced plans to issue $375 million of senior notes due in 2019 and $375 million of senior discount notes due in 2016 to help finance acquisitions and a dividend to its equity stakeholders, respectively, according to a Vanguard news release.
Specifically, net proceeds from the senior notes offering will be used for general corporate purposes, including acquisitions, and the related transaction fees and expenses of both notes offerings. Vanguard intends to use the proceeds from the senior discount notes offering to pay a dividend to its equity holders.
The senior notes issuers' obligations under the senior notes will be fully and unconditionally guaranteed on a senior basis by Vanguard, Vanguard Health Holding Company I, LLC and certain subsidiaries of VHS Holdco II. The senior discount notes will not be guaranteed by any of Vanguard's subsidiaries.
Read the release on the Vanguard senior notes.
Read more coverage on Vanguard Health Systems:
- Vanguard Completes Acquisition of Detroit Medical Center
- Vanguard to Acquire Chicago's Holy Cross Hospital
Specifically, net proceeds from the senior notes offering will be used for general corporate purposes, including acquisitions, and the related transaction fees and expenses of both notes offerings. Vanguard intends to use the proceeds from the senior discount notes offering to pay a dividend to its equity holders.
The senior notes issuers' obligations under the senior notes will be fully and unconditionally guaranteed on a senior basis by Vanguard, Vanguard Health Holding Company I, LLC and certain subsidiaries of VHS Holdco II. The senior discount notes will not be guaranteed by any of Vanguard's subsidiaries.
Read the release on the Vanguard senior notes.
Read more coverage on Vanguard Health Systems:
- Vanguard Completes Acquisition of Detroit Medical Center
- Vanguard to Acquire Chicago's Holy Cross Hospital