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Verscend to price $1.15 billion eight-year notes on Friday, sets 9¼% to 9½% initial talk
By Paul A. Harris
Portland, Ore., Aug. 6 – Verscend Holding Corp. is marketing $1.15 billion of eight-year notes on a roadshow set to wrap up on Friday, according to market sources.
Initial guidance is 9¼% to 9½%, an investor said.
JP Morgan Securities LLC is managing the sale.
The notes come with three years of call protection.
The Waltham, Mass.-based provider of payment services to the health care industry plans to use the proceeds to help finance its acquisition of Cotiviti Holdings, Inc., an Atlanta-based provider of payment services to the health care industry.
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