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Aurora Diagnostics to sell $230 million seven-year notes this week
By Paul A. Harris
St. Louis, Dec. 6 - Aurora Diagnostics Inc. plans to price $230 million of seven-year notes during the Dec. 6 week, according to an informed source.
Morgan Stanley & Co. Inc., Barclays Capital Inc. and UBS Investment Bank are the joint bookrunners for the Rule 144A with registration rights offering.
RBC Capital Markets Corp. and BMO Nesbitt Burns are the co-managers.
The notes, which will be issued via Aurora Diagnostics Holdings, LLC and Aurora Diagnostics Financing, Inc., come with three years of call protection.
Credit ratings remain to be determined.
About $129 million of the proceeds from the sale of the notes will be used to repay bank debt. About $30 million of the proceeds will be used to consummate a pending acquisition, and about $65 million of the remaining proceeds for will be used for general corporate purposes, including working capital.
The prospective issuer is a Palm Beach Gardens, Fla.-based diagnostics company.
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