Simpson Thacher represented J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., SunTrust Robinson Humphrey, Inc., Wells Fargo Securities, LLC, Credit Agricole Securities (USA) Inc. and the other initial purchasers in an offering of $400 million of 4.75% Senior Secured Notes due 2022, which were issued as additional notes under an existing indenture, and $400 million of 5% Senior Secured Notes due 2026 by Universal Health Services, Inc. (“UHS”). The offering closed on June 3, 2016.
Simpson Thacher also represented Bank of America, N.A. and J.P. Morgan, as lead arrangers and lenders in connection with an amendment of UHS’s existing credit facilities that, among other things, provided for senior secured incremental term loans in an aggregate principal amount of $200 million.
UHS is one of the largest hospital companies in the United States, operating, through its subsidiaries, acute care hospitals, behavioral healthcare facilities and ambulatory centers located throughout the United States and Puerto Rico.
The Simpson Thacher team included John Ericson, Chris Webb, Christine Marshall and Thomas Killeen (Capital Markets); Patrick Ryan, Jennifer Albrecht and Jacqueline Yuan (Credit); Jonathan Pall (Collateral); Aimee Adler and Patricia Adams (Executive Compensation and Benefits); Jon Cantor and Michelle Goldring (Tax); Linda Nyberg (Intellectual Property); Adeeb Fadil (Environmental); and Jennie Getsin (Blue Sky). Summer Associates Khori Davis and Cory Carone also provided valuable assistance.