Gentiva Health expected to bring $305 million eight-year notes in late July or early August

By Paul A. Harris

St. Louis, June 16 - Gentiva Health Services Inc. is expected to bring a $305 million offering of eight-year senior unsecured notes in late July or early August, according to a high-yield mutual fund manager.

Barclays Capital Inc. will lead the bonds.

A $925 million senior credit facility is expected to launch on or about July 1, the source said.

Bank of America, GE Capital, Barclays and SunTrust are the joint lead arrangers and bookrunners on the credit facility.

Proceeds from the debt financing will be used to fund the acquisition of Odyssey HealthCare Inc. for $27 per share, for a total purchase price of about $1 billion.

The acquisition is expected to close in the third quarter, subject to standard conditions, including regulatory approvals and clearance under the Hart-Scott-Rodino Act as well as approval by Odyssey's stockholders.

Gentiva is an Atlanta-based home health care provider. Odyssey is a Dallas-based provider of hospice care.

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