Akumin on virtual roadshow for $375 million five-year secured notes; initial talk low 7% area

By Paul A. Harris

Portland, Ore., Oct. 20 – Akumin Inc. began a virtual roadshow on Tuesday for a $375 million offering of five-year senior secured notes, according to market sources.

Early guidance has the deal coming to yield in the low 7% area, a trader said.

The roadshow wraps up on Thursday, and the deal is set to price on Friday.

Barclays, Citigroup, Morgan Stanley and BBVA are the joint bookrunners. Raymond James is the co-manager.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

The Toronto-based provider of diagnostic imaging services plans to use the proceeds to refinance its existing senior secured credit facilities.

© 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.