Rotech Healthcare Inc. (OTCBB: ROHI) announced today the pricing of its offering of $230 million in aggregate principal amount of Senior Secured Notes due 2015. The notes will be sold to investors at a price of 97.189% of the principal amount thereof and will bear a coupon rate equal to 10 ¾ % per annum. The offering is expected to close on October 6, 2010.
The Company estimates that the net proceeds from this offering will be approximately $223.5 million before deducting the initial purchaser's discounts and estimated offering expenses. The Company will use the net proceeds of the offering, together with cash on hand, to repay approximately $226.0 million in borrowings under the Company's existing payment-in-kind term loan facility.
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