Radiation Therapy wraps $440 million Libor plus 425 bps term loan at 99

By Paul A. Harris

St. Louis, Feb. 21 - Radiation Therapy Services, Inc. priced its $440 million term loan (B1/BB-) with an interest rate of 425 basis points above Libor at an original issue discount of 99, according to a market source.

Price talk had the deal coming at par with a spread to Libor of 375 to 400 bps.

Wachovia was the lead arranger.

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.

Radiation Therapy is a Fort Myers, Fla., operator of radiation therapy centers.

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