New Issue: MedQuest prices $180 million 10-year notes to yield 12¼%

By Paul A. Harris

St. Louis, Mo., Aug. 8 - MedQuest Inc. priced $180 million of senior subordinated notes due Aug. 15, 2012 (B3/B-) at 97.781 Thursday to yield 12¼%, according to a syndicate source.

Price talk was for a yield in the 11½% area.

JP Morgan was the bookrunner. UBS Warburg and Wachovia Securities, Inc. were the co-managers.

Proceeds from the Rule 144A deal will be used to fund the acquisition of the Alpharetta, Ga.-based diagnostic imaging services provider by JP Morgan Partners.

Issuer: MedQuest Inc.

Amount:	$180 million
Maturity:	Aug. 15, 2012
Type:	Senior subordinated notes
Bookrunner:	JP Morgan
Co-manager:	UBS Warburg, Wachovia Securities
Coupon:	11 7/8%
Price:	97.871
Yield:	12¼%
Price talk:	11½% area
Spread:	785 basis points
Call features:	Callable on Aug. 15, 2007 at 105.938, 103.958, 101.979, par on Aug. 15, 2010 and thereafter
Equity clawback:	Until Aug. 15, 2005 for 35% at 111.875
Settlement date:	Aug. 15, 2002
Ratings:	Moody's: B3
	Standard & Poor's: B-
Rule 144A CUSIP:	58505DAA7

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