Rural/Metro intends to sell $200 million eight-year senior notes

By Paul A. Harris

St. Louis, Oct. 18 - Rural/Metro Corp. announced in a Monday press release that it intends to make a $200 million offering of eight-year senior notes.

RBC Capital Markets Corp. will lead a syndicate of banks in bringing the Rule 144A deal to market, according to a market source.

Timing remains to be determined, the source added.

Proceeds, along with proceeds from a new credit facility, will be used to refinance bank debt and to fund a tender offer for the company's 12¾% senior discount notes due 2016, to pay off cash collateralized letters of credit, for working capital and for general corporate purposes.

Rural/Metro is a Scottsdale, Ariz.-based provider of emergency and non-emergency medical transportation services, fire protection and other safety-related services in the United States.

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