| | | | On March 5, 2010, certain subsidiary issuers of Vanguard Health Systems, Inc. (the “Company”) completed the previously announced redemptions of (1) the remaining $20,645,000 million aggregate principal amount of the outstanding 9% Senior Subordinated Notes due 2014 (the “9% Notes”) issued by Vanguard Health Holding Company II, LLC and Vanguard Holding Company II, Inc. (collectively, the “9% Notes Issuers”) pursuant to an indenture, dated as of September 23, 2004 (the “9% Notes Indenture”), among the 9% Notes Issuers, the guarantors named therein and U.S. Bank National Association, as trustee and (2) the remaining $4,050,000 million aggregate principal amount of the outstanding 11.25% Senior Discount Notes due 2015 (the “11.25% Notes”) issued by Vanguard Health Holding Company I, LLC and Vanguard Holding Company I, Inc. (collectively, the “11.25% Notes Issuers”) pursuant to an indenture, dated as of September 23, 2004 (the “11.25% Notes Indenture”), among the 11.25% Notes Issuers, the Company as guarantor and U.S. Bank National Association, as trustee. The total consideration paid in connection with the redemption of the 9% Notes, $22.4 million, represented 104.500% of the principal amount of the 9% Notes so redeemed along with accrued and unpaid interest thereon. The total consideration paid in connection with the redemption of the 11.25% Notes, $4.5 million, represented 105.625% of the principal amount of the 11.25% Notes so redeemed along with accrued and unpaid interest thereon. Upon the redemption of the outstanding 9% Notes, the 9% Notes Indenture, which governed the terms of the 9% Notes, was satisfied and discharged as of March 5, 2010. Upon the redemption of the outstanding 11.25% Notes, the 11.25% Notes Indenture, which governed the terms of the 11.25% Notes, was satisfied and discharged as of March 5, 2010. Any description of the provisions of the 9% Notes Indenture is summary in nature and is qualified in its entirety by reference to the provisions of the definitive agreement. A copy of the 9% Notes Indenture was filed as Exhibit 4.1 to the Company’s Registration Statement on Form S-4 filed on November 12, 2004 (Registration No.333-120436). Any description of the provisions of the 11.25% Notes Indenture is summary in nature and is qualified in its entirety by reference to the provisions of the definitive agreement. A copy of the 11.25% Notes Indenture was filed as Exhibit 4.3 to the Company’s Registration Statement on Form S-4 filed on November 12, 2004 (Registration No.333-120436). |
