Apollo adds CMBS carveout to LifePoint high yield bonds

By David Bell
07 Nov 2018

The high yield bonds being issued to support Apollo’s acquisition of hospital group LifePoint Health include carve-outs that allow the private equity firm to pay itself dividends by securitizing LifePoint’s property and equipment without falling foul of additional debt and restricted payments covenants.

The private equity firm launched a $5bn financing package last week to support the acquisition of hospital firm LifePoint Health. The company will be merged with RCCH Healthcare Partners, another hospital firm acquired by Apollo in November 2015.

The $1.575bn

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