Extendicare price talk 9½%-9¾%, pricing Thursday afternoon

By Paul A. Harris

St. Louis, Mo., June 19 - Price talk of 9½%-9¾% emerged Wednesday on Extendicare Health Services, Inc.'s upcoming sale of $150 million senior notes due 2010 (B2/B-), according to a syndicate source. The deal is expected to price Thursday afternoon.

Lehman Brothers is the bookrunner. US Bancorp Piper Jaffray and LaSalle are co-managers.

The Rule 144A notes are non-callable for four years.

Proceeds will be used to repay bank debt.

The long-term health care services-provider is a wholly-owned subsidiary of Markham, Ont.-based Extendicare, Inc.

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