Prime Healthcare Services, Inc. Successfully Completes $50 Million Tender Offer Prime Healthcare Services, Inc. completed the repurchase of $50,980,000 aggregate principal amount of Prime’s outstanding 7.250% Senior Secured Notes due November 2025 (the “Notes”). On the Settlement Date, the Company paid all holders of Notes who validly tendered and did not withdraw their Notes on or prior to the Expiration Time, and whose Notes were accepted for purchase, the Total Consideration of $920.00 per $1,000 principal amount of Notes (plus accrued and unpaid interest). Prime Healthcare previously announced the cash tender offer on August 4, 2022, which expired on August 31, 2022.
Prime Healthcare is the largest physician-founded and led health system in the nation, recognized for award winning care and forwarding health equity by transforming hospitals into valued community assets.
“Due to strong cash reserves, Prime was able to leverage a unique market opportunity to retire outstanding debt at a discount while still maintaining robust liquidity to fund future growth,” said Steve Aleman, Prime Healthcare’s Chief Financial Officer. “Prime’s ability to complete this transaction is a testament to the strength of Prime’s leadership, vision, and strategic initiatives that have reinforced the company’s operations and financial position.”