Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for ResCare, Inc. > News item |
Res-Care talks $150 million eight-year notes at 7¾% area; pricing Friday afternoon
By Paul A. Harris
St. Louis, Sept. 22 - Res-Care Inc. is talking its $150 million offering of eight-year senior notes at the 7¾% area, according to market sources.
Pricing is expected on Friday afternoon.
Goldman Sachs & Co. has the books for the Rule 144A /Regulation S with registration rights offering. Jefferies & Co. is the co-manager.
The notes come with four years of call protection.
Moody's Investors Service assigns its B1 rating to the notes. The Standard & Poor's rating is B.
Proceeds, together with existing cash and short-term investments, will be used to repurchase $150 million of the company's 10 5/8% senior notes due 2008 and to repay its existing term loan.
Res-Care is a Louisville-based company that provides residential, therapeutic, job training and educational supports to people with developmental or other disabilities, to youth with special needs and to adults who are experiencing barriers to employment.
© 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.