Radiation Therapy talks $310 million seven-year notes to yield 10%-10¼% with 1-2 points OID

By Paul A. Harris

St. Louis, April 8 - Radiation Therapy Services, Inc. talked its $310 million offering of seven-year senior subordinated notes (Caa1/CCC+) to yield 10% to 10¼%, including an original issue discount of approximately 1 to 2 points, an informed source told Prospect News on Thursday.

The order books closed on Thursday, except for West Coast accounts.

The deal is set to price on Friday.

Wells Fargo Securities, Bank of America Merrill Lynch and Barclays Capital Inc. are joint bookrunners for the deal, which is being placed via Rule 144A and Regulation S with registration rights.

Daiwa Securities America Inc. and Fifth Third Securities Inc. are co-managers.

The notes come with four years of call protection.

Proceeds will be used to refinance existing debt, as well as to fund ongoing working capital and for other general corporate purposes, including acquisitions.

The company is a Fort Myers, Fla.-based provider of radiation therapy services to cancer patients.

© 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.