HealthEquity Announces Proposed Offering of Additional $100 Million 4.500% Senior Notes Due 2029

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DRAPER, Utah, Oct. 04, 2021 (GLOBE NEWSWIRE) — HealthEquity (NASDAQ:HQY), the nation’s largest non-bank health savings account (HSA) custodian, announced today that it has started, subject to market and other conditions, an offering in the aggregate principal amount of $100 million of its 4.500% Senior Notes due 2029. This offering is in addition to the previously announced offering $500 million aggregate principal amount of its 4.500% Senior Notes due 2029. The Senior Notes are expected to be guaranteed by certain subsidiaries of HealthEquity on a senior unsecured basis. HealthEquity intends to use the net proceeds from the offerings, together with cash on hand and borrowings under new credit facilities, to refinance amounts outstanding under its existing term loan and/or for general the company.

The Senior Notes and related collateral are only offered to investors who are reasonably suspected of being “qualified institutional purchasers” on the basis of the exemption from registration provided in Rule 144A under the the Securities of 1933, as amended (the “Securities Act”) and outside the United States to non-U.S. persons in reliance on the registration exemption provided by Regulation S under the Securities Act. The Senior Notes and related security have not been registered under the Securities Act or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from the Securities Act and applicable state securities laws or blue sky and foreign securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of Senior Notes in any jurisdiction in which such offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of such jurisdiction.

About HealthEquity

HealthEquity and its subsidiaries administer HSAs and other consumer benefits for HealthEquity’s more than 13 million accounts in partnership with like-minded employers, benefits advisors, and health and retirement plan providers. of HealthEquity to connect health and wealth and to value HealthEquity’s remarkable culture of “Purple” service. For more information, visit www.healthequity.com.

Forward-looking statements

This press release contains forward-looking statements that involve risks and uncertainties. Statements that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, business strategy, plans, goals and expectations regarding HealthEquity’s markets and market position, future operations, expenses and the like. When used in this discussion, the words “expected”, “intends”, “plans”, “estimates”, “may” and “will” and the negative of these or similar terms and expressions are intended identify forward-looking statements. in this press release. Forward-looking statements reflect HealthEquity’s current expectations regarding the offerings and new credit facilities. These expectations may or may not come true. Although HealthEquity believes that the expectations reflected in the forward-looking statements are reasonable, HealthEquity can give you no assurance that such expectations will prove to be correct. Some of these expectations may be based on assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks relating to the following: the risk that the offers described in this press release will not be realized, the risk that the proceeds from the offerings described in this press release cannot be used for the stated purposes due to unforeseen circumstances and HealthEquity’s ability to generate sufficient cash flow to service and repay the debt described in this press release. For a detailed discussion of other risk factors, please refer to the risks detailed in HealthEquity’s filings with the Securities and Exchange Commission, including, without limitation, its most recent Annual Report on Form 10-K and the subsequent periodic and current reports.

Contact with Investor Relations:

Richard Putman
801-727-1209
[email protected]

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