TPG Recoups Iasis Investment With Dividend: Corporate Finance
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TPG Capital, the private-equity firm started by David Bonderman, may recoup its $434 million investment in Iasis Healthcare Corp. through a third dividend backed by leveraged loans and junk bonds.
Iasis is planning to raise $1.235 billion of loans and $935 million in notes, the Franklin, Tennessee-based owner and operator of community hospitals said April 18 in a statement. A portion of the funds will be used for a payout, according to the company, which is rated five steps below investment grade.