Opal/One Call plans to start roadshow Wednesday for $610 million eight-year notes

By Paul A. Harris

Portland, Ore., Dec. 3 - Opal Acquisition, Inc. plans to start a roadshow on Wednesday for a $610 million offering of eight-year senior notes, according to a market source.

The deal will be unwrapped in a group meeting at the BofA Merrill Lynch Leveraged Finance Conference on Wednesday.

The roadshow travels to New York and New Jersey on Thursday, to Boston on Friday and to the West Coast of the United States on Monday and Tuesday.

Pricing is expected on Tuesday.

BofA Merrill Lynch, RBC Capital Markets, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Jefferies LLC are the joint bookrunners for the Rule 144A for life and Regulation S offering.

The notes come with three years of call protection.

Proceeds will be used to repay the second-lien term facility, which, together with borrowings under the first-lien credit facility, was used to fund the acquisition of One Call, and, together with incremental borrowings under the first-lien credit facility, to fund the acquisition of Align Networks, to refinance debt of Align and its subsidiaries and for other general corporate purposes.

The issuing entity is an affiliate of sponsors Apax Partners, LP and Apax Partners LLP, formed to acquire OC Medical Holdings, Inc. (One Call Care Management), a New York-based provider of specialized cost containment services to the workers' compensation industry.

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