DaVita extends roadshow for $1.35 billion notes after receiving subpoena from U.S. Justice Department

By Paul A. Harris

St. Louis, March 8 - DaVita Inc. extended its roadshow for its $1.35 billion offering of high-yield notes into next week after receiving a subpoena from the U.S. Justice Department, according to a source close to the deal.

The company said it received a subpoena from the Justice Department, U.S. Attorney's Office for the Eastern District of Missouri. The subpoena, which was received on March 4, requires production of a wide range of documents relating to the operations of the company and its subsidiaries from Dec. 1, 1996 to the present, the company said in a news release.

The subpoena requires the production of documents related to, among other things, pharmaceutical and other services provided to patients, relationships with pharmaceutical companies, financial relationships with physicians and joint ventures, the news release added.

The DaVita bond deal, via bookrunner JP Morgan and co-managers Credit Suisse First Boston, Banc of America Securities LLC, Wachovia Securities and Bear Stearns & Co., is comprised of $500 million of eight-year non-call-four senior notes (B2/B) and $850 million of 10-year non-call-five senior subordinated notes (B3/B).

DaVita is an El Segundo, Calif., kidney dialysis services provider.

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