Extendicare $125 million 10-year notes price talk 7-7¼%, to price Thursday

By Paul A. Harris

St. Louis, April 14 - Price talk of 7% to 7¼% emerged Wednesday on Extendicare Health Services Inc.'s proposed $125 million offering of 10-year senior subordinated notes (B2/B-), a syndicate source said.

The deal is expected to price midday Thursday.

Lehman Brothers is the bookrunner for the Rule 144A/Regulation S offering.

Piper Jaffray and ABN Amro are co-managers.

Proceeds will be used to partially fund the tender for $200 million of the company's outstanding 9.35% senior subordinated notes due 2007.

The issuer is a wholly owned subsidiary of Milwaukee-based Extendicare Inc., an operator of long-term care and home health care services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.