Universal Health Services prices $1.1B dual-tranche senior secured notes offering at 5.500% and 6.000%

Filed August 13, 2026 · ~2 min read

Key Changes

• high

  UHS is offering $600M of 5.500% senior secured notes due 2031 and $500M of 6.000% senior secured notes due 2036, both secured by first-priority liens on certain assets excluding real property and deposit accounts.

  The Offering verify on EDGAR →
• high

  Net proceeds of $1.086B will repay $700M of notes maturing September 1, 2026, and $225M drawn on the revolving credit facility that funded the Talkspace acquisition and general corporate purposes.

  Use of Proceeds verify on EDGAR →
• medium

  The notes are structurally subordinated to obligations of non-guarantor subsidiaries (primarily UK operations) representing 20.5% of net revenues for 2025 and 20.8% of total assets as of June 30, 2026.

  Risk Factors verify on EDGAR →