Accendra Health Exchange Offers have reached completion after the company announced the final results of its previously disclosed exchange initiatives. Accendra Health, Inc. confirmed the expiration of the offers and consent solicitations involving its outstanding senior notes. The company announced that the Exchange Offers covered its existing 4.500% Senior Notes due 2029 and 6.625% Senior Notes due 2030. These initiatives aimed to support the company’s ongoing financial restructuring strategy. As of 5:00 P.M., New York City time, on June 23, 2026, the expiration deadline concluded. The company received valid and unwithdrawn tenders from eligible holders.
According to Epiq Corporate Restructuring, LLC, the Exchange Agent and Information Agent, holders submitted approximately $478.3 million in aggregate principal amount of 2029 Notes. Additionally, holders submitted approximately $548.0 million in aggregate principal amount of 2030 Notes. These amounts represented nearly all outstanding notes available under the Exchange Offers. Specifically, the participation included approximately 99.9% of the 2029 Notes and 99.2% of the 2030 Notes outstanding at the launch of the program. Furthermore, Accendra Health stated that its acceptance of validly tendered Existing Notes remained subject to specific conditions. The company outlined these conditions in the confidential offering memorandum and consent solicitation statement dated May 22, 2026.
The company also confirmed the issuance of new debt securities connected with the transaction. Accendra Health issued or expects to issue $213.0 million in aggregate principal amount of First Lien Notes. Additionally, the company issued or expects to issue $698.1 million in aggregate principal amount of Second Lien Notes. These securities were exchanged for validly tendered and accepted Existing Notes. Moreover, Accendra Health completed a New Money Notes Issuance. This issuance included $326.25 million in aggregate principal amount of First Lien Notes.
Following these transactions, the company expects total First Lien Notes to reach $539.25 million. The move represents a significant step in Accendra Health’s capital restructuring efforts.
Accendra Health Strengthens Financial Position Through Restructuring
The offering of the New Notes was not registered with the Securities and Exchange Commission (SEC) under the Securities Act of 1933, as amended. The securities were also not registered under applicable state or foreign securities laws. The Exchange Offers were available only to eligible holders meeting specific regulatory requirements. These included qualified institutional buyers under Rule 144A of the Securities Act. The offers were also available to non-U.S. persons through transactions outside the United States under Regulation S of the Securities Act. Epiq Corporate Restructuring, LLC served as the Exchange Agent and Information Agent throughout the Offers and Consent Solicitations process. Holders seeking additional details were directed to contact the appointed agents using the information provided in the Offering Memorandum. Furthermore, Ducera Securities LLC supported Accendra Health as its financial advisor for the Exchange Offers and Consent Solicitations.
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News Source: Businesswire.com
