New Issue: DaVita prices $400 million add-on to 6 5/8% senior notes due 2013 at 100.50 to yield 6.523%

By Paul A. Harris

St. Louis, Feb. 9 - DaVita, Inc. priced a $400 million add-on to its 6 5/8% senior notes due March 15, 2013 (B1/existing B) at 100.50 to yield 6.523% on Friday, according to market sources.

Credit Suisse ran the books for the quick-to-market deal.

Proceeds will be used to repay bank debt.

The original $500 million issue priced at par in March 2005, bringing the total issue size to $900 million.

DaVita is an El Segundo, Calif., kidney dialysis services provider.

Issuer:	DaVita, Inc.
Face amount:	$400 million
Proceeds:	$402 million
Maturity:	March 15, 2013
Security description:	Add-on to 6 5/8% senior notes
Bookrunner:	Credit Suisse
Coupon:	6 5/8%
Price:	100.50
Yield:	6.523%
Spread:	175 bps
Call features:	Callable on March 15, 2009 at 103.313, 101.656, par on and after March 15, 2011
Equity clawback:	Until March 15, 2007 for 35% at 106.625
Trade date:	Feb. 9
Settlement date:	Feb. 23
Ratings:	Moody's: B1
	Standard & Poor's: B (existing)
Original issue:	$500 million priced at par in March 2005
Total issue size:	$900 million

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