Universal Health Services’ $800 Million Secured Notes Offering


Simpson Thacher represented the initial purchasers in the offering.

Universal Health Services, Inc. (“UHS”) executed its offering of $800 million of 2.65% Senior Secured Notes due 2030. UHS intends to use the net proceeds of this offering to retire existing indebtedness and for general corporate purposes. The offering closed on September 21, 2020.

UHS, through its subsidiaries, owns and operates acute care hospitals and outpatient facilities and behavioral health care facilities. As of June 30, 2020, UHS owned and/or operated 356 inpatient facilities and 41 outpatient and other facilities located in 37 states, Washington, D.C., the United Kingdom and Puerto Rico.

The Simpson Thacher team representing J.P. Morgan, BofA Securities, Goldman Sachs and the other initial purchasers included John C. Ericson (Picture), Mark Brod and Della Fok (Capital Markets); Patrick Ryan and Robyn Cho (Credit); Jonathan Pall (Collateral); Vanessa Burrows (Healthcare); Patricia Adams (Executive Compensation and Employee Benefits); Jon Cantor (Tax); Melanie Jolson (Intellectual Property); Adeeb Fadil (Environmental); and Jennie Getsin (Blue Sky).

Involved fees earner: Patricia Adams – Simpson Thacher & Bartlett; Mark Brod – Simpson Thacher & Bartlett; Vanessa Burrows – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Robyn Cho – Simpson Thacher & Bartlett; John Ericson – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Della Fok – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Goldman Sachs & Co.; J.P. Morgan Securities LLC;

Author: Ambrogio Visconti