OrNda Note Sale Backs Fountain Valley Hospital Deal
- Share via
OrNda Healthcorp, a provider of health-care management services based in New York, sold $125 million worth of 10-year senior subordinated notes.
The notes, non-redeemable for five years, were priced at $995.67 per $1,000 of bonds, providing a yield of 11.45%, according to MCM CorporateWatch.
The notes are rated “B2” by Moody’s Investors Service Inc. and “B-” by Standard & Poor’s Corp. Merrill Lynch & Co., Donaldson Lufkin & Jenrette Securities Corp., Salomon Brothers Inc. and Citicorp were the underwriters on the sale.
OrNda will use some proceeds from the sale to finance its recent $145-million acquisition of Fountain Valley Regional Hospital and Medical Center.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
