FORM T - 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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STATEMENT OF ELIGIBILITY UNDER THE
TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2) _________
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AMSOUTH BANK OF ALABAMA
(Exact name of trustee as specified in its charter)
ALABAMA 63-0073530
(State of incorporation if (I.R.S. Employer
not a U.S. national bank) Identification Number)
1900 FIFTH AVENUE NORTH 35203
BIRMINGHAM, ALABAMA (Zip Code)
(Address of principal executive offices)
STEPHEN A. YODER
AMSOUTH BANK OF ALABAMA
LAW DEPARTMENT
P.O. BOX 11007
BIRMINGHAM, ALABAMA 35288
(205) 326-5319
(name, address and telephone number of agent for service)
------------------------
PARACELSUS HEALTHCARE CORPORATION
(Exact name of obligor as specified in its charter)
CALIFORNIA 95-3565943
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
155 NORTH LAKE AVENUE, SUITE 1100
PASADENA, CALIFORNIA 91101
(Address of principal executive offices) (Zip code)
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SENIOR SUBORDINATED NOTES DUE 2006
(Title of the indenture securities)
ITEM 1. GENERAL INFORMATION.
FURNISH THE FOLLOWING INFORMATION AS TO THE TRUSTEE -
(a) NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISING AUTHORITY TO
WHICH IT IS SUBJECT.
State of Alabama, Superintendent of Banks, Montgomery, Alabama 36130
Federal Reserve Bank, Atlanta Georgia 30303
Federal Deposit Insurance Corporation, Washington, D.C. 20429
(b) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.
Yes.
ITEM 2. AFFILIATIONS WITH THE OBLIGOR.
IF THE OBLIGOR IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH SUCH
AFFILIATION.
None.
ITEM 3. VOTING SECURITIES OF THE TRUSTEE.
Not applicable.
ITEM 4. TRUSTEESHIPS UNDER OTHER INDENTURES.
Not applicable.
ITEM 5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE
OBLIGOR OR UNDERWRITERS.
Not applicable.
ITEM 6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS
OFFICIALS.
Not applicable.
ITEM 7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR
OFFICIALS.
Not applicable
ITEM 8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
Not applicable.
ITEM 9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
Not applicable.
ITEM 10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
Not applicable.
ITEM 11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON
OWNING 50 PERCENT OF MORE OF THE VOTING SECURITIES OF THE OBLIGOR.
Not applicable.
ITEM 12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
Not applicable.
ITEM 13. DEFAULTS BY THE OBLIGOR.
Not applicable.
(a) STATE WHETHER THERE IS OR HAS BEEN A DEFAULT WITH RESPECT TO
THE SECURITIES UNDER THIS INDENTURE. EXPLAIN THE NATURE OF ANY SUCH
DEFAULT.
There is not and has not been any such default.
(b) IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE UNDER WHICH
ANY OTHER SECURITIES, OR CERTIFICATES OF INTEREST OR PARTICIPATION IN
ANY OTHER SECURITIES, OF THE OBLIGOR ARE OUTSTANDING, OR IS TRUSTEE
FOR MORE THAN ONE OUTSTANDING SERIES OF SECURITIES UNDER THE
INDENTURE, STATE WHETHER THERE HAS BEEN A DEFAULT UNDER ANY SUCH
INDENTURE OR SERIES, IDENTIFY THE INDENTURE OR SERIES AFFECTED, AND
EXPLAIN THE NATURE OF ANY SUCH DEFAULT.
Not applicable.
ITEM 14. AFFILIATIONS WITH THE UNDERWRITERS.
Not applicable.
ITEM 15. FOREIGN TRUSTEE.
Not applicable.
ITEM 16. LIST OF EXHIBITS.
THE ADDITIONAL EXHIBITS LISTED BELOW ARE FILED HEREWITH: EXHIBITS, IF
ANY, IDENTIFIED IN PARENTHESES ARE ON FILE WITH THE COMMISSION AND
ARE INCORPORATED HEREIN BY REFERENCE AS EXHIBITS HERETO PURSUANT TO
RULE 7a-29 UNDER THE TRUST INDENTURE ACT OF 1939, AS AMENDED, AND
RULE 24 OF THE COMMISSION'S RULES OF PRACTICE.
1. A copy of the articles of incorporation of the trustee as now in
effect. (Exhibit 1 to Form T-1, Registration No. 33-89756).
2. A copy of the certificate of authority of the trustee to commence
business and to exercise trust powers. (Exhibit 2 to Form T-1,
Registration No. 33-89756).
3. Contained in Exhibit 2 to Form T-1, Registration
No. 33-89756.
4. A copy of the existing bylaws of the trustee (Exhibit 3 to Form T-1,
Registration No. 33-89756).
5. Not applicable.
6. The consent of the trustee required by Section 321 (b) of the Trust
Indenture Act of 1939, as amended.
7. A copy of the latest report of condition of the trustee as of the
close of business on June 30, 1996, published pursuant to the
requirements of its supervising or examining authority
8. Not applicable.
9. Not applicable.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the trustee, AmSouth Bank of Alabama, a corporation organized and
existing under the laws of the State of Alabama, has duly caused this statement
of eligibility to be signed on its behalf by the undersigned, thereunto duly
authorized, all in the City of Birmingham, State of Alabama on the 12th day of
August, 1996.
AMSOUTH BANK OF ALABAMA
BY /s/ David E. White
---------------------------------
David E. White
SENIOR VICE PRESIDENT
AND CORPORATE TRUST OFFICER
EXHIBIT 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321 (b) of the Trust Indenture Act
of 1939, as amended, in connection with the proposed issue of Senior
Subordinated Notes by Paracelsus Healthcare Corporation, we hereby consent that
reports of examinations by Federal, State, Territorial or District authorities
may be furnished by such authorities to the Securities and Exchange Commission
upon request therefor.
Dated August 12, 1996.
AMSOUTH BANK OF ALABAMA
BY /s/ David E. White
--------------------------------
David E. White
SENIOR VICE PRESIDENT
AND CORPORATE TRUST OFFICER
AMSOUTH BANK OF ALABAMA Call Date: 06/30/96 State #: 01-0320 FFIEC 031
P O BOX 11007 Vendor ID: D Cert #: 02782 Page RC-1
BIRMINGHAM: AL 35388 Transit #: 62000019
Transmitted to EDS as 0008853 on 07/31/96 at 00:04:37 CST 11
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR JUNE 30, 1996
All schedules are to be reported in thousands of dollars. Unless otherwise indicated,
report the amount outstanding as of the last business day of the quarter.
SCHEDULE RC - BALANCE SHEET
C400
Dollar Amount in Thousands
- -------------------------------------------------------------------------------------------------------------
ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A): RCFD
a. Noninterest-bearing balances and currency and coin (1) 0081 413,854 1.a
------------------------------------ ---------
b. Interest-bearing balances (2) 0071 0 1.b
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2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A) 1754 1,166,705 2.a
-------------------------------- ---------
b. Available-for-sale securities (from Schedule RC-B, column D) 1773 1,101,083 2.b
------------------------------ ---------
3. Federal funds sold and securities purchased under agreements to resell in domestic offices
of the bank and of its Edge and Agreement subsidiaries, and in IBFs:
a. Federal funds sold 0275 187,675 3.a
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b. Securities purchased under agreements to resell 0277 17,800 3.b
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4. Loans and lease financing receivables: RCFD
a. Loans and leases, net of unearned income (from Schedule RC-C) 2122 6,566,142 4.a
----- ---------
b. LESS: Allowance for loan and lease losses 3123 90,201 4.b
------------------------- ---------
c. LESS: Allocated transfer risk reserve 3128 0 4.c
------------------------------ ---------
d. Loans and leases, net of unearned income, RCFD
allowance, and reserve (item 4.a minus 4.b and 4.c) 2125 6,475,941 4.d
--------------------------------------- ---------
5. Trading assets (from Schedule RC-D) 3545 3,600 5.
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6. Premises and fixed assets (including capitalized leases) 2145 170,658 6.
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7. Other real estate owned (from Schedule RC-M) 2150 11,435 7.
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8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) 2130 13,184 8.
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9. Customers' liability to this bank on acceptances outstanding 2155 3,346 9.
--------------------------------- ---------
10. Intangible assets (from Schedule RC-M) 2143 18,706 10.
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11. Other assets (from Schedule RC-F) 2160 123,024 11.
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12. Total assets (sum of items 1 through 11) 2170 9,707,026 12.
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(1)Includes cash items in process of collection and unposted debits.
(2)Includes time certificates of deposit not held for trading.
C400
AMSOUTH BANK OF ALABAMA Call Date: 06/30/96 State #: 01-0320 FFIEC 031
P O BOX 11007 Vendor ID: D Cert #: 02782 Page RC-2
BIRMINGHAM: AL 35388 Transit #: 62000019
Transmitted to EDS as 0008853 on 07/31/96 at 00:04:37 CST 12
SCHEDULE RC - CONTINUED
Dollar Amount in Thousands
- -------------------------------------------------------------------------------------------------------------
LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E. RCON
part I) 2200 5,752,864 13.a
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RCON
(1) Noninterest-bearing (1) 6631 1,283,163 13.a. 1
---------------------------------------- ---------
(2) Interest-bearing 5636 5,469,701 13.a.2
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b. In foreign offices, Edge and Agreement subsidaries, and IBFs (from Schedule RC-E. RCFN
part II) 2200 10,813 13.b
---------------------------------------------------------------------------------- ----------
RCFN
(1)Noninterest-bearing 5631 0 13.b 1
------------------------------------------------ ---------
(2)Interest-bearing 5636 10,813 13.b2
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14. Federal funds purchased and securities sold under agreements to repurchase in domestic
offices of the bank and of Edge and Agreement subsidiaries, and in IBFs: RCFD
a. Federal funds purchased 0278 1,050,111 14.a
------------------------------------------------------------------- ----------
b. Securities sold under agreements to repurchase 0279 524,645 14.b
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RCON
15. a. Demand notes issued to the U.S. Treasury 2840 310,196 15.a
-------------------------------------------------- ----------
RCFD
b. Trading liabilities (from Schedule RC-D) 3548 13 15.b
-------------------------------------------------- ----------
16. Other borrowed money:
a. With a remaining maturity of one year or less 2332 6,576 16.a
--------------------------------------------- ----------
b. With a remaining maturity of more than one year 2333 104,102 16.b
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17. Mortgage indebtedness and obligations under capitalized leases 2910 0 17.
------------------------------- ----------
18. Bank's liability on acceptances executed and outstanding 2920 3,305 18.
------------------------------------- ----------
19. Subordinated notes and debentures 3200 0 19.
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20. Other liabilities (from Schedule RC-G) 2930 112,864 20.
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21. Total liabilities (sum of items 13 through 20) 2948 8,875,489 21.
----------------------------------------------- ----------
22. Limited-life preferred stock and related surplus 3282 0 22.
--------------------------------------------- ----------
EQUITY CAPITAL RCFD
23. Perpetual preferred stock and related surplus 3838 0 23.
------------------------------------------------ ----------
24. Common stock 3230 16,050 24.
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25. Surplus (exclude all surplus related to preferred stock) 3839 272,044 25.
------------------------------------- ----------
26. a. Undivided profits and capital reserves 3632 539,879 26.a
---------------------------------------------------- ----------
b. Net unrealized holding gains (losses) on available-for-sale securities 3434 3,554 26.b
-------------------- ----------
27. Cumulative foreign currency translation adjustments 3264 0 27.
------------------------------------------ ----------
28. Total equity capital (sum of items 23 through 27) 3210 831,537 28.
-------------------------------------------- ----------
29. Total liabilities, limited-life preferred stock, and equity capital
(sum of items 21,22, and 23) 3300 9,707,0206 29.
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MEMORANDUM
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the statement below that best describes the
most comprehensive level of auditing work performed for the bank by independent external RCFD
auditors as of any date during 1995 6724 N/A M.1
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1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company
(but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.