MediMedia talks $150 million eight-year notes at 11½% area

By Paul A. Harris

St. Louis, Oct. 31 - MediMedia USA Inc. talked its $150 million offering of eight-year senior subordinated notes (Caa1/CCC+) at the 11½% area on Tuesday, according to an informed source.

The books close at 1 p.m. ET on Wednesday, and the notes will price thereafter.

Goldman Sachs & Co. is the bookrunner for the notes, which are being marketed via Rule 144A.

The notes come with three years of call protection.

The company will also put in place a $250 million credit facility.

Proceeds, in addition to a $250 million credit facility, will be used to repay the bridge loan incurred to fund the acquisition of the company by Vestar Capital Partners from Cinven, The Carlyle Group and Apax Partners.

MediMedia is a Chatham, N.J.-based specialty health care communications company.

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