New Issue: Monitor Clipper $29.7 million proceeds eight-year discount notes yield 13½%

By Paul A. Harris

St. Louis, May 16 - MCP-MSC Acquisition, Inc. (Monitor Clipper Partners, LLC) priced $29.7 million proceeds of non-rated eight-year senior discount notes Thursday at 76.681 to yield 13½%, according to an informed source.

The notes will pay a 0% coupon for two years.

Banc of America Securities LLC ran the books for the Rule 144A for life issue.

Proceeds will be used to refinance a portion of the debt in connection with the acquisition of Medical Services Co. by investment funds affiliated with Monitor Clipper Partners, LLC.

Jacksonville, Fla.-based Medical Services Co. is a procurer of ancillary health care products and services to workers' compensation payors.

Issuer:	MCP-MSC Acquisition, Inc.
Proceeds:	$29.7 million
Maturity:	April 30, 2013
Security description:	Senior discount notes
Bookrunner:	Banc of America Securities LLC
Coupon:	0% for two years, then steps up to 13½%
Price:	76.681
Yield:	13½%
Spread:	953 basis points
Call features:	Callable after April 30, 2006 at 105, 103.333, 101.666, par on and after April 30, 2009
Trade date:	May 12
Settlement date:	May 12
Ratings:	Non-rated

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