Extendicare to fund tender with new notes issue via Lehman Brothers

By Paul A. Harris

St. Louis, April 5 - Extendicare Health Services Inc. will issue bonds to fund the tender for $200 million of its outstanding 9.35% senior subordinated notes due 2007, the company said in a news release Monday.

Lehman Brothers will run the books on the deal, said Christopher Barnes, the manager of investor relations for Toronto-based parent Extendicare Inc.

Barnes, while declining to specify the size or tenor of the pending issue, told Prospect News on Monday that details are likely to surface within one week.

Extendicare Health Services is a Milwaukee-based subsidiary of Extendicare, which operates long-term care facilities, medical specialty services, rehabilitative therapy services, and home health care services.

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