Memorial Hermann Health System’s $270 Million Notes Offering

Bracewell LLP advised JP Morgan on the deal.

JP Morgan acted as underwriter in the issuance of $270 million bonds for Memorial Hermann Health System. The transaction involved four series of bonds, for a total of approximately $270 million, including a tender and exchange offer and both taxable and tax-exempt debt. The transaction was undertaken to achieve savings and to create a more favorable payment structure for Memorial Hermann by refunding prior debt and redeeming bonds with upcoming tender dates.

Memorial Hermann Health System operates 15 hospitals and a number of other health facilities in the greater Houston region and leads the area by share of in-patient admissions.

The Bracewell team was led by Jonathan C. Leatherberry (Picture), R. Todd Greenwalt, Brian P. Teaff, Troy L. Harder, Ian R. Brown, Paige H. Abernathy and Kathy Witty Medford.

Involved fees earner: Paige Abernathy – Bracewell; Ian Brown – Bracewell; Todd Greenwalt – Bracewell; Troy Harder – Bracewell; Jonathan Leatherberry – Bracewell; Kathy Witty Medford – Bracewell; Brian Teaff – Bracewell;

Law Firms: Bracewell;

Clients: JP Morgan;

Author: Ambrogio Visconti