New Issue: Vantage Oncology prices $50 million tap of 9½% notes due 2017 at par

By Paul A. Harris

Portland, Ore., Oct. 31 - Vantage Oncology, LLC priced a $50 million add-on to its 9½% senior secured notes due June 15, 2017 (B2/B/) at par to yield 9½% on Thursday, according to an informed source.

The reoffer price came on top of price talk.

Jefferies LLC was the bookrunner for the quick-to-market add-on.

The Manhattan Beach, Calif.-based owner and operator of radiation oncology centers plans to use the proceeds to refinance its credit facility, to finance an acquisition and for general corporate purposes.

Issuer:	Vantage Oncology, LLC and Vantage Oncology Finance Co.
Amount:	$50 million
Maturity:	June 15, 2017
Security description:	Add-on to 9½% senior secured notes due June 15, 2017
Bookrunner:	Jefferies & Co.
Coupon:	9½%
Price:	Par
Yield:	9½%
Call features:	Make-whole at Treasuries plus 50 bps until June 15, 2014, then callable at 107.125, 104.750, par on and after June 15, 2016
Equity clawback:	35% at 109.5 until June 15, 2014
Change-of-control put:	101%
Trade date:	Oct. 31
Settlement date:	Nov. 5 with accrued interest
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A for life
Price talk:	Par
Marketing:	Quick to market
Original issue:	$250 million priced at par on May 22, 2013
Fungibility:	The add-on notes will be immediately fungible with the original notes
Total issue size:	$300 million

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