ExamWorks talks $250 million eight-year notes with 9%-9¼% yield

By Paul A. Harris

Portland, Ore., July 13 - ExamWorks Group, Inc. talked its $250 million offering of eight-year senior notes (B3/CCC+) with a 9% to 9¼% yield on Wednesday, according to an informed source.

The books close at 9 a.m. ET on Thursday, and the deal is set to price thereafter.

Bank of America Merrill Lynch, Barclays Capital Inc., SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are the joint bookrunners.

The Rule 144A with registration rights notes come with four years of call protection and feature a 101% poison put.

Proceeds will be used to repay revolver debt and for general corporate purposes, including acquisitions.

ExamWorks is an Atlanta-based provider of independent medical examinations, peer and bill reviews and related services to property and casualty insurance carriers, law firms, third-party claim administrators, government agencies and state funds.

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