Bon Secours Mercy Health Updates on Tender Offer and Pricing

Bon Secours Mercy Health, Inc. Announces Tender Pricing Information

Bon Secours Mercy Health, Inc. ("BSMH") has recently shared significant updates regarding its tender offer pricing. This announcement is part of the ongoing efforts to manage the company's financial strategies effectively and provide stakeholders with essential information.

Details of the Tender Offer

The Offer to Purchase, as described, allows holders of various securities to tender their holdings for cash at a purchase price determined by a fixed spread over Reference Yields. This pricing is based on the applicable bid price of U.S. Treasury Reference Securities, which is indicative of the company's proactive approach in capital management. The tendering process also accounts for accrued and unpaid interest from the last payment date up until the Settlement Date. This allows investors to have a transparent understanding of their returns.

Important Dates and Updates

The Early Tender Date was set at 5:00 PM New York City time, and this critical deadline has already passed without any extensions. Investors were advised about the new Expiration Date for the tender, which is now 5:00 PM New York City time on a later date. Furthermore, the Settlement Date has been adjusted to accommodate this timeline, which reflects BSMH’s commitment to respecting the feedback from its investors.

BSMH initially placed an Aggregate Tender Cap limit set to $150 million for the securities tendered. Due to overwhelming response from holders, the company made the decision to increase this cap significantly to $308,057,000. This enhancement allows for all bonds tendered by the Early Tender Date to be accepted into the offer. Remarkably, this cap was reached promptly, meaning any tenders made after the Early Tender Date won’t be processed.

Reference Yield and Total Consideration

Following the conditions outlined in the Offer to Purchase, BSMH determined the Reference Yield and Total Consideration for Securities tendered prior to the Early Tender Date. These rates were established by evaluating market conditions at a specific time, showcasing BSMH's keen observation of market dynamics. This meticulous assessment allows BSMH to offer competitive pricing while ensuring that its financial decisions align with the best interests of its stakeholders.

Understanding Total Consideration

The Total Consideration for the securities will be effective following the tendering process. In particular, it is vital to clarify that the Settlement Date will occur three business days post-Expiration Date, simplifying the payment process for securities that were validated and accepted in the tendering transaction. Investors seeking clarity on these financial processes will find that BSMH is dedicated to communicating the necessary details to aid their understanding.

Role of Dealer Managers and Advisors

RBC Capital Markets, LLC serves as the Lead Dealer Manager for this tender process, collaborating with J.P. Morgan Securities LLC as the Co-Dealer Manager. Their expertise supports BSMH through the intricacies of the tender offer, ensuring that investors have access to expert guidance throughout the transaction. Stakeholders can engage with these managers directly to gain insights and seek answers to their queries.

Contact Information for Investors

For those interested in further information regarding the tender offer, they can easily reach out to the respective contacts made available by BSMH. These connections ensure that stakeholders receive timely responses to their questions or concerns, reflecting BSMH's genuine commitment to investor relations.

About Bon Secours Mercy Health, Inc.

BSMH is recognized for its commitment to delivering healthcare that nurtures and cares for communities. The company continually focuses on its purpose to improve the health of all people, particularly amidst challenging times and changing healthcare landscapes. As avenues for financial growth evolve, BSMH remains keen on ensuring its investors are kept abreast of relevant financial updates that may impact investments.

Frequently Asked Questions

What is the purpose of the tender offer by BSMH?

The tender offer allows holders of certain securities to sell them back to BSMH at a predetermined price, facilitating financial management for the company.

How does BSMH determine the purchase price for tendered securities?

The purchase price is determined based on a fixed spread over the Reference Yields, which reflect current market conditions.

What are the critical dates related to the tender offer?

Key dates include the Early Tender Date, Expiration Date, and the Settlement Date, each of which is crucial for investors participating in the tender offer.

What happens if I miss the Early Tender Date?

Any tenders submitted after the Early Tender Date will not be accepted due to the Aggregate Tender Cap being reached.

Who can provide assistance if I have questions about the tender offer?

Investors can reach RBC Capital Markets or J.P. Morgan Securities, the appointed Dealer Managers, for assistance and information regarding the tender offer process.

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