M*Modal to start roadshow Wednesday for $250 million eight-year notes

By Paul A. Harris

Portland, Ore., Aug. 7 - M*Modal Inc. will begin a roadshow on Wednesday for a $250 million offering of eight-year senior notes (Caa1/B-), according to a syndicate source.

Group investor meetings are set for 11:30 a.m. ET on Wednesday at the Hilton Short Hills in New Jersey and at noon ET on Thursday at the St. Regis Hotel in New York.

An investor conference call is also set for noon ET on Thursday.

The deal is expected to price on Aug. 14.

Bank of America Merrill Lynch and RBC Capital Markets LLC are the joint bookrunners.

SunTrust Robinson Humphrey Inc. is the lead manager. ING and SMBC are the co-managers.

The Rule 144A for life notes become callable in three years at par plus 75% of the coupon. They feature a 101% poison put.

Proceeds, along with proceeds from a $515 million senior secured credit facility, cash on hand and cash and equity investments by One Equity Partners will be used to finance the proposed acquisition of M*Modal and to repay existing debt.

The issuing entity will be Legend Acquisition Sub, Inc., which will be merged with and into M*Modal, a Franklin, Tenn.-based provider of clinical documentation services and speech understanding services.

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