Shearman & Sterling represented the initial purchasers led by Morgan Stanley & Co. LLC in connection with Prospect Medical Holdings, Inc.’s offering of $100 million of its 8.375% Senior Secured Notes due 2019. The Notes are secured by mortgages on seven hospitals in California and Texas, as well as substantially all of the other assets of Prospect and its subsidiaries.
Shearman & Sterling also represented Morgan Stanley & Co. LLC as solicitation agent in connection with Prospect’s consent solicitation with respect to its outstanding $325 million of 8.375% Senior Secured Notes due 2019.
Prospect is a provider of quality, cost-efficient and coordinated healthcare services through its hospitals, clinics, and physician networks in Southern California and San Antonio, Texas.
The following Shearman & Sterling lawyers advised in the transactions: partners John D. Wilson (San Francisco-Capital Markets), Steven E. Sherman (New York-Finance), and Laurence Crouch (Palo Alto-Tax); counsel Brad D. Kern (San Francisco-Capital Markets), Sharon Lippett (New York-Executive Compensation & Employee Benefits), and Eileen O’Pray(Palo Alto-Tax); and associates Nathan Wood (Palo Alto-Finance), Elise Corey (San Francisco-Capital Markets), Antonio Herrera (San Francisco-Capital Markets), Anil Kalia (Palo Alto-Tax) and Eric Naftel (Palo Alto-Tax).
