Surgery Partners said late Thursday that it received the consents necessary to effect certain amendments of the indenture governing its 8.875% senior notes due 2021. On May 10 Surgery Partners agreed to pay $750 million for National Surgical Healthcare, an owner and operator of surgical facilities.
Funding for Surgery Partners’ acquisition of NSH will be provided in part by an affiliate of Bain Capital Private Equity, which as part of the transaction is injecting capital in exchange for preferred stock in the company.
Further, an affiliate of Bain Capital Private Equity will acquire the private H.I.G. Capital’s equity stake in Surgery Partners. The amendments alter the “change of control” definition relating to the notes, the facilitate the transaction.