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Radiation Therapy sets Jan. 24 launch for $440 million credit facility
By Sara Rosenberg
New York, Jan. 17 - Radiation Therapy Services, Inc. has scheduled a bank meeting for Jan. 24 to launch its proposed $440 million senior secured credit facility, according to a market source.
Wachovia is the lead bank on the deal.
The credit facility consists of a $60 million five-year revolver, a $340 million six-year term loan and a $40 million six-year delayed-draw term loan.
Proceeds will be used to help fund the buyout of the company by Vestar Capital Partners for $32.50 per share plus assumed debt in a deal valued at $1.1 billion.
The transaction is expected to close in the first quarter of 2008 and is subject to shareholder approval.
Radiation Therapy is a Fort Myers, Fla., operator of radiation therapy centers.
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