UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES PRICING OF SENIOR SECURED NOTES

KING OF PRUSSIA, Pa., Sept. 17, 2024 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) today announced the pricing of its previously announced public offering of senior secured notes. The Company priced the offering of $500 million aggregate principal amount of its 4.625% senior secured notes due 2029 (the "2029 Notes") and $500 million aggregate principal amount of its 5.050% senior secured notes due 2034 (the "2034 Notes", and together with the 2029 Notes, the "Notes"). The Notes will pay interest semi-annually in arrears, on April 15^th and October 15^th of each year, beginning on April 15, 2025. The 2029 Notes will mature on October 15, 2029 and the 2034 Notes will mature on October 15, 2034, unless earlier redeemed or repurchased. 

Each of the Company's existing and future subsidiaries that guarantee the Company's senior secured credit facility or certain of the Company's other indebtedness or indebtedness of subsidiary guarantors will guarantee the Notes. The Notes and the related guarantees will be secured by first-priority liens, subject to permitted liens, on the Company's assets and certain assets of subsidiary guarantors that have pledged assets to secure certain of the Company's other indebtedness or indebtedness of subsidiary guarantors now owned or acquired in the future by the Company and the secured guarantors (other than real property and certain other excluded assets). 

The Notes offering is expected to close on September 26, 2024, subject to customary closing conditions. The Company intends to use the net proceeds of the offering to repay certain amounts outstanding under the Company's current tranche A term loan facility.

The offering of the senior secured notes is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering is being made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attn: Investment Grade Syndicate Desk, by telephone: 1-212-834-4533, BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255, Attn: Prospectus Department, by telephone: 1-800-294-1322 or by email: [email protected], Truist Securities, Inc., 3333 Peachtree Road NE, 9^th Floor, Atlanta, GA 30326, Attn: Prospectus Department, by telephone: 800-685-4786 or by email: [email protected], U.S. Bancorp Investments, Inc. by telephone: 877-558-2607, or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, by telephone: 1-800-645-3751 or by email: [email protected].

You may also visit www.sec.gov to obtain an electronic copy of the related preliminary prospectus supplement and the accompanying prospectus.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes described herein, nor shall there be any sale of these Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is being made under an automatic shelf registration statement on Form S-3 (333-282135) filed with the Securities and Exchange Commission on September 16, 2024. The Notes will be offered only by means of a prospectus, including the prospectus supplement relating to the Notes, and any free writing prospectus prepared by or on behalf of the Company, each of which meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Certain statements in this release may constitute forward-looking statements and are subject to various risks and uncertainties as discussed in the Company's filings with the Securities and Exchange Commission. The Company is not obligated to update these forward-looking statements even if the Company's assessment of these risks and uncertainties changes.

Universal Health Services, Inc. ("UHS") is one of the nation's largest providers of hospital and healthcare services. Through its subsidiaries, UHS operates acute care hospitals, behavioral health facilities, outpatient facilities and ambulatory care access points located throughout the United States, Puerto Rico and the United Kingdom.

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SOURCE Universal Health Services, Inc.