Prime Healthcare completes sale of $700M in secured notes

Ontario, Calif.-based Prime Healthcare has closed its public offering of $700 million in senior protected notes with a 7.25 percent rate of interest due in 2025..

” This funding affirms the strength of Primes design, platform and tactical vision,” said Prime Healthcare CFO Steve Aleman. “We are very pleased by the investor response and need causing the capability to not only total, however expand, this offering.”.

The 31-hospital system said it initially used $610 million in protected notes, but upped the provided amount due to an “overwhelming demand by financiers.”.

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Prime said it plans to utilize the earnings from the offering to re-finance debt and expand combination methods, acquisitions and working capital.

Alia Paavola –
Wednesday, October 28th, 2020