MedCath $150 million eight-year notes talked to yield 9 7/8%-10 1/8%, to price Tuesday

By Paul A. Harris

St. Louis, June 28 - MedCath Holdings Corp.'s proposed $150 million offering of eight-year senior notes (Caa1/B-) is talked to yield 9 7/8% to 10 1/8%, according to a syndicate source.

The deal is expected to price on Tuesday afternoon.

Banc of America Securities, Wachovia Securities and Citigroup are joint bookrunners for the Rule 144A/Regulation S offering. JP Morgan is the co-manager.

The notes will come with four years of call protection.

Proceeds will be used to repay debt and for general corporate purposes.

The issuer is a wholly owned subsidiary of Charlotte, N.C.-based MedCath Corp., a healthcare provider focused primarily on the diagnosis and treatment of cardiovascular disease.

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