EVHC TL B 1L USD

Credit, Healthcare


Publicly traded companies mentioned herein: KKR & Co Inc (KKR), Surgery Partners Inc (SGRY)

Highlights

The presenter has a bullish outlook on the credit of KKR-owned Envision Healthcare Corporation. Its capital structure is comprised of ~$6.5B of secured debt and ~$1.5B of unsecured debt with very few maturities prior to 2025. Of the secured debt, ~$5.5B is a term loan maturing October 2025 that trades at ~72 and offers an L+375 coupon. The presenter is long this term loan, which he notes has a ~12% YTM. As the industry recovers from COVID-19 impacts, he expects this security to approach par. 

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.