ResCare to price $150 mln seven-year notes Nov. 9 via UBS, Lehman

By Paul A. Harris

St. Louis, Mo., Oct. 30 - ResCare Inc. will price $150 million of senior notes due 2008 (B2/B) on Friday, Nov. 9, a syndicate source told Prospect News. The source identified UBS Warburg, and Lehman Brothers as joint bookrunners, in a syndicate that includes Banc One Capital Markets, US Bancorp Piper

Jaffray, Jefferies & Co. and First Analysis Securities.

The Rule 144A notes are non-callable for four years and have an equity claw for 35% in the first three years, the source said. Proceeds will be used to pay down bank debt and the company's 6% convertible notes.

The roadshow is set to begin Wednesday, the source said.

The Louisville, Ky.-based company provides services for special needs individuals.

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