Akumin starts roadshow for $500 million seven-year secured notes; initial talk high-6% area

By Paul A. Harris

Portland, Ore., July 26 – Akumin Inc. began a roadshow for a $500 million offering of seven-year senior secured notes on Monday, according to market sources.

The deal, which was set to kick off on a Monday conference call with investors, is in the market with initial guidance in the high 6% area and is expected to price on Thursday.

Barclays is the left bookrunner. J.P. Morgan Securities LLC is the joint bookrunner. Raymond James & Associates, SVB Leerink LLC, PNC Capital Markets LLC and Regions Securities LLC are the co-managers.

The Rule 144A for life notes become callable after three years at par plus 50% of the coupon.

The issuing entity will be Akumin Escrow Inc.

The Plantation, Fla.-based outpatient diagnostic imaging services provider plans to use the proceeds to support the acquisition of Alliance HealthCare Services.

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