MedCath to buy back some 9 7/8% notes via offering of 6 million shares

By Jennifer Chiou

New York, Oct. 26 - MedCath Corp. announced it will repurchase a portion of its 9 7/8% senior notes due 2012 using the proceeds of a stock offering.

The company said it will offer 1.7 million of its shares and Kohlberg Kravis Roberts and Co. and Welsh, Carson, Anderson & Stowe and their affiliates intend to offer 4.3 million MedCath shares.

MedCath said remaining proceeds will go towards working capital and other corporate purposes.

Charlotte, N.C.-based MedCath develops, owns and operates hospitals.

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