AMN Healthcare to offer $400 million in senior notes due 2031

DALLAS - AMN Healthcare Services, Inc. (NYSE:AMN), currently trading at $18.72 and showing a strong free cash flow yield according to InvestingPro data, announced Monday that its wholly owned subsidiary, AMN Healthcare, Inc., plans to make a private offering of $400 million in senior unsecured notes due 2031, subject to market conditions.

The 2031 notes will be guaranteed by the company’s affiliates that guarantee its credit facilities. With current total debt of approximately $956 million, AMN intends to use the proceeds from the offering, along with cash on hand and borrowings under its secured revolving credit facility, to redeem all $500 million of its outstanding 4.625% senior unsecured notes due 2027 and to pay related fees and expenses.

The company stated it expects to deliver a Conditional Notice of Redemption to holders of its 2027 notes, contingent upon the successful completion of the 2031 notes offering.

The new notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States in compliance with Regulation S. The notes will not be registered under the Securities Act and cannot be offered or sold in the United States without registration or an applicable exemption.

AMN Healthcare describes itself as a healthcare workforce solutions provider, stating that in 2024 its healthcare professionals served nearly 15 million patients at more than 2,100 healthcare systems nationwide.

This information is based on a company press release statement.

In other recent news, AMN Healthcare Services reported its second-quarter 2025 earnings, revealing a revenue of $658.2 million, which represents an 11% decrease from the previous year. Despite this decline, the revenue exceeded both JMP’s estimate of $647.1 million and the consensus forecast of $652.1 million. The company’s earnings per share (EPS) also surpassed expectations, coming in at $0.30 compared to the forecasted $0.18. Following these results, JMP maintained a Market Outperform rating but lowered the price target for AMN Healthcare to $22 from $33. Similarly, BMO Capital reduced its price target to $22 from $27, while maintaining an Outperform rating, citing stronger margins despite lower volumes. These developments reflect a complex picture for AMN Healthcare as it navigates a challenging market environment.

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