Vanguard agreed in March to buy the eight facility chain for $417 million and invent $850 in capital improvements over the next five years.
The eight percent senior notes will be sold in a private placement at 96.25 and 96.5 cents on the dollar, according to the report. If the acquisition of Detroit Medical Center doesn’t go through, proceeds from the bond sale will be used for general corporate purposes.
Read the Crain’s Detroit Business report on Vanguard’s purchase of Detroit Medical Center.
Read more Becker’s coverage of Vanguard Health Systems.
Detroit Medical Center Delays Decision on Vanguard Buyout
Vanguard and Detroit Medical Center Sign Final Agreement
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