Invacare $175 million eight-year notes talked at 10% area, to price Wednesday

By Paul A. Harris

St. Louis, Feb. 5 - Invacare Corp. talked its $175 million offering of eight-year senior notes (B2/B-) at the 10% area on Monday, according to an informed source.

The books close at the end of the day on Tuesday except for accounts seeing management that day. For those accounts, the books close at 12 p.m. ET on Wednesday, and the notes will be priced thereafter.

Banc of America Securities LLC has the books for the notes, which are being offered via Rule 144A with registration rights. KeyBank is the joint lead manager. BMO Nesbitt Burns and SunTrust Robinson Humphrey are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to repay existing debt.

Invacare is an Elyria, Ohio-based manufacturer and distributor of medical equipment used in the home.

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