Skilled Healthcare launches $200 million eight-year senior subordinated notes

By Paul A. Harris

St. Louis, Dec. 5 - Skilled Healthcare Group Inc. began a roadshow on Monday for its $200 million offering of eight-year senior subordinated notes (Caa1/CCC+), according to market sources.

Credit Suisse First Boston and JP Morgan are bookrunners for the notes, which will be sold via Rule 144A with registration rights and Regulation S.

The notes will come with four years of call protection.

Proceeds will be used to help fund the C$750 million leveraged buyout of the company by Onex Corp.

The Foothill Ranch, Calif., company operates nursing and assisted living homes in California, Texas, Kansas and Nevada.

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