LifePoint Hospitals, Inc. (NASDAQ: LPNT) announced today that it has received, pursuant to its previously announced consent solicitation with respect to its $400 million aggregate principal amount of 6.625% Senior Notes due 2020 (the “Notes”), the requisite consents to adopt certain proposed amendments (the “Proposed Amendments”) to the indenture governing the Notes to limit the amount of assets that may be attributed to non-guarantor subsidiaries and the amount of indebtedness that may be incurred by non-wholly owned subsidiaries that are not guarantor subsidiaries under the indenture.
The consent solicitation expired at 5:00 p.m., New York City time, on August 23, 2013 (the “Expiration Date”). The Company has been advised by D.F. King & Co., Inc., as information and tabulation agent in connection with the consent solicitation, that as of the Expiration Date, consents were validly delivered and not validly revoked by holders of approximately $393 million in aggregate principal amount, or approximately 98%, of the outstanding Notes. As a result, the Company, the applicable guarantors, and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture, have executed a supplemental indenture giving effect to the Proposed Amendments. Holders of the Notes will receive a cash payment of $15.00 for each $1,000 principal amount of Notes for which such holder has validly delivered a consent.
In addition, on August 23, 2013, the Company entered into an amendment to the Company’s credit agreement with the lenders party thereto. The credit agreement amendment eliminates the requirement that non-wholly owned subsidiaries provide guarantees in respect of indebtedness incurred under the credit agreement, modifies the requirements to exclude certain wholly owned subsidiaries from having to provide guarantees and modifies certain affirmative and negative covenants to effectuate the new provisions regarding guarantees.
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: email@example.com.
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
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