New Issue: OnCure prices $210 million 11¾% seven-year notes to yield 12 1/8%

By Paul A. Harris

St. Louis, May 6 - OnCure Holdings, Inc. priced a $210 million issue of 11¾% seven-year senior secured notes (B2/B/) at 98.261 to yield 12 1/8% on Thursday, according to an informed source.

The yield printed at the wide end of the 12% area yield talk. The reoffer price came slightly cheap to discount talk of approximately 1.5 points.

Jefferies & Co. ran the books.

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

OnCure is an Engelwood, Colo.-based manager of radiation oncology treatment centers.

Issuer:	OnCure Holdings, Inc.
Face amount:	$210 million
Proceeds:	$206,348,000 (approximate)
Maturity:	May 15, 2017
Securities:	Senior secured notes
Bookrunner:	Jefferies & Co.
Coupon:	11¾%
Price:	98.261
Yield:	12 1/8%
Call features:	Make-whole call at Treasuries plus 50 bps until May 15, 2014, then callable at 105.875, 102.938, par on and after May 15, 2016
Equity clawback:	35% at 111.75 until May 15, 2013
Change-of-control put:	101%
Trade date:	May 6
Settlement date:	May 13
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	12% area yield, including approximately 1.5 points of OID

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