Rural/Metro buyout financing credit facility expected as May business

By Sara Rosenberg

New York, April 14 - Rural/Metro Corp.'s proposed credit facility for its acquisition by Warburg Pincus is expected to launch with a bank meeting sometime in May, according to a market source.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Jefferies & Co. are leading the deal.

Under the agreement, Rural/Metro is being purchased for $17.25 per share of common stock in cash.

Other funds for the buyout will come from high-yield bonds.

Closing on the transaction is expected to take place by the end of June, subject to customary conditions and regulatory approvals.

Rural/Metro is a Scottsdale, Ariz.-based provider of emergency and non-emergency ambulance services and private fire protection services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.