Alaris Medical to hit the road Friday with $200 million of eight-year notes

By Paul A. Harris

St. Louis, June 11 - The roadshow is set to run June 13-25 for Alaris Medical Inc.'s offering of $200 million senior subordinated notes due 2011 (B3/B-), according to syndicate sources.

Bear Stearns & Co., Citigroup and UBS Warburg are joint bookrunners for the off-the-shelf notes. CIBC World Markets and Jefferies & Co. are co-managers.

The notes will be non-callable for four years and will contain a three-year equity clawback for 35%.

The San Diego company, which develops solutions for medication safety, will also obtain a new $265 million credit facility and make an offering of 9.1 million common shares.

Proceeds will be used to fund the company's recapitalization plan which includes the refinancing of its bank debt and a tender offer and consent solicitation for all of Alaris Medical Inc. and Alaris Medical Systems Inc. bonds, including its 11 1/8% senior discount notes due 2008, 11 5/8% senior secured notes due 2006 and 9 ¾%% senior subordinated notes due 2006.

© 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.