LifePoint Hospitals Announces Consent Solicitation Relating to Its 6.625% Senior Notes Due 2020 (CUS
LifePoint Hospitals Announces Consent Solicitation Relating to Its 6.625% Senior Notes Due 2020 (CUSIP No. 53219L AK5)
BRENTWOOD, Tenn.--(BUSINESS WIRE)-- LifePoint Hospitals, Inc. (NAS: LPNT) announced today that it is soliciting consents (the "Consent Solicitation") from the registered holders as of 5:00 p.m., New York City time on July 29, 2013, of its 6.625% Senior Notes due 2020 (the "Notes"), of which $400,000,000 in aggregate principal amount is outstanding, to amend the Indenture governing the Notes 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. In furtherance of the Company's strategic initiatives, the proposed amendments will provide the Company with operating flexibility to make acquisitions and joint ventures in which the seller retains a minority interest without the resulting non-wholly owned subsidiaries being required to provide guarantees of the Notes. The proposed amendments require the consent of the holders of a majority in aggregate principal amount of the outstanding Notes.
In the event that certain conditions are satisfied, including the receipt of the requisite consents, the Company will effect the proposed amendments by entering into a supplemental indenture to the indenture governing the Notes.
The Consent Solicitation will expire at 5:00 p.m., New York City time, on August 12, 2013, unless terminated or extended by the Company in its sole discretion (the "Expiration Date"). Consents may be revoked at any time prior to the date on which the supplemental indenture becomes effective. If the Consent Solicitation is successful, the Company will make a payment, promptly after the Expiration Date, in an amount in cash equal to $7.50 per $1,000 in principal amount of the Notes to holders who had validly delivered their consents prior to the Expiration Date and have not validly revoked such consents. The Consent Solicitation is being made pursuant to a Consent Solicitation Statement dated today, which sets forth a more comprehensive description of the terms of the Consent Solicitation. This press release is not a solicitation of consents to the Proposed Amendments.
Copies of the Consent Solicitation Statement and the consent form may be obtained by holders of the Notes from the Information and Tabulation Agent for the Consent Solicitation, D.F. King & Co., Inc., at (800) 949-2583 (toll-free), (212) 269-5550 (collect) or by email: firstname.lastname@example.org.
Barclays Capital Inc. is the Solicitation Agent for the Consent Solicitation. Questions may be directed to Barclays Capital Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect).
About LifePoint Hospitals
LifePoint Hospitals, Inc. is a leading hospital company focused on providing quality healthcare services close to home. Through its subsidiaries, LifePoint operates 57 hospital campuses in 20 states. With a mission of "Making Communities Healthier®," LifePoint is the sole community hospital provider in the majority of the communities it serves. More information about the Company, which is headquartered in Brentwood, Tennessee, can be found on its website, www.LifePointHospitals.com. All references to "LifePoint," "LifePoint Hospitals," or the "Company" used in this release refer to LifePoint Hospitals, Inc. or its affiliates.
In addition to historical information, this report may contain certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, together with other statements that are not historical, are based on management's current expectations and involve known and unknown risks, uncertainties, contingencies and other factors that could cause results, performance or achievements to differ materially from those stated. The most significant of these risks and uncertainties are described in the Company's Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, the Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as otherwise required by law, the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
LifePoint Hospitals, Inc.
Jeff Sherman, 615-372-8501
Executive Vice President and Chief Financial Officer
KEYWORDS: United States North America Tennessee
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