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Encore Medical to tender for 9¾% notes
New York, June 30 - Encore Medical Corp. said it will tender for its 9¾% senior subordinated notes as part of a leveraged buyout by Blackstone Capital Partners V LP.
Blackstone has a debt financing commitment from Bank of America and Credit Suisse to help fund the $870 million purchase.
Austin, Tex.-based orthopedic device company Encore said it has a definitive merger agreement with Blackstone under which its shareholders will receive $6.55 in cash per share.
The transaction will be funded through debt and equity.
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