Surgery Partners Plans to Offer $425M 7.250% Senior Unsecured Notes
Surgery Partners announced that Surgery Center Holdings, a wholly owned subsidiary of the Company, intends to offer, subject to market and other considerations, an additional $425M aggregate principal amount of its 7.250% senior unsecured notes due 2032. The Notes will be guaranteed on a senior unsecured basis by each domestic wholly-owned subsidiary of the Issuer that guarantees its obligations under its senior secured credit facilities. The notes will be issued as part of the same series as the Issuer's 7.250% senior notes due 2032 originally issued in April 2024. Surgery Partners intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, repaying outstanding borrowings under its revolving credit facility.
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Surgery Partners Announces $425 Million Private Debt Offering Pricing
Private Offering Announcement: Surgery Partners (SGRY) announced that its Surgery Center subsidiary has priced a private offering.
Financial Implications: The details regarding the amount raised and the intended use of proceeds from the offering were not specified in the announcement.
Surgery Partners Prices $425 Million Senior Unsecured Notes Offering
- Bond Offering Size: Surgery Partners' wholly-owned subsidiary, Surgery Center Holdings, Inc., has successfully priced $425 million of 7.250% senior unsecured notes, expected to close on December 16, 2025, enhancing the company's financing flexibility.
- Clear Use of Proceeds: The net proceeds from this bond offering will be utilized for general corporate purposes, including repaying outstanding borrowings under its revolving credit facility, thereby optimizing the company's capital structure and reducing financial costs.
- Market Positioning: As a leading healthcare services company in the U.S., Surgery Partners operates over 200 locations across 30 states, continuously expanding its surgical services business to provide high-quality, cost-effective solutions for patients and physicians.
- Compliance and Risk Advisory: This bond offering complies with Rule 144A of the Securities Act, targeting only qualified institutional buyers, and the unregistered securities may face liquidity risks, necessitating attention to market changes that could impact the company's finances.
