Universal Health Services offers $1.1B in SR notes

Universal Health Services, Inc. (NYSE: UHS) has announced plans to offer senior secured notes, with the net proceeds intended to repay amounts outstanding under the company’s current tranche A term loan facility. The offering, subject to market conditions, will determine the final terms, including the interest rate, maturity, and principal amount of the notes. The company is largest hospital healthcare services provider in the United States, Puerto Rico, and the United Kingdom.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. Investors may obtain a preliminary prospectus supplement and the accompanying prospectus through several underwriters, including J.P. Morgan Securities LLC, BofA Securities, Inc., Truist Securities, Inc., U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC.

Fitch Ratings has affirmed Universal Health Services at 'BB+'/Stable, indicating credit profile remains stable despite the proposed debt issuance. The offering does not constitute an offer to sell or a solicitation of an offer to buy in jurisdictions where such actions would be unlawful prior to registration or qualification under local securities laws.