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Akumin talks $375 million five-year secured notes at 7% area yield; pricing Friday
By Paul A. Harris
Portland, Ore., Oct. 22 – Akumin Inc. talked its $375 million offering of five-year senior secured notes (B3/B-) to yield in the 7% area, according to market sources.
Official talk comes tight to early guidance in the low 7% area.
Books close at 10:30 a.m. ET 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.
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