Rotech $180 million PIK term loan priced at Libor plus 600 bps, 99 OID

By Sara Rosenberg

New York, April 2 - Rotech Healthcare Inc.'s $180 million payment-in-kind term loan due Sept. 26, 2011 priced at Libor plus 600 basis points and was sold to investors with an original issue discount of 99, according to an 8-K filed with the Securities and Exchange Commission Monday.

Credit Suisse acted as the bookrunner and lead arranger on the deal that was completed on March 30.

Proceeds were used to repay and terminate the company's credit facility and for general working capital purposes.

Rotech is an Orlando, Fla., provider of home medical equipment and related products and services.

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