AmSurg, Envision begin to line up financial ducks

Executives at AmSurg and Envision Healthcare said Thursday that the corporate entity that will soon house their combined businesses plans to issue $750 million in eight-year notes that will start the process of refinancing the companies’ balance sheets.

The new senior unsecured debt, to be issued by what will become Envision Healthcare Corp., will go toward paying off AmSurg notes due in 2020 as well as other term and revolving debts. Once shareholders approve the planned combination of the local company with Envision — meetings will take place Nov. 28 — the new company plans to, among other things, wrap up a new $3.3 billion term loan facility due in 2023 and a new $1 billion revolving credit facility that will end in 2021. (Details of those plans are available here.)