Bloomberg News

Kinetic Concepts Said to Host Oct. 5 Meeting for LBO Deal

October 03, 2011

(Adds bridge financing in fourth paragraph.)

Oct. 3 (Bloomberg) -- Kinetic Concepts Inc., the wound care company, will host a lender meeting Oct. 5 at 9:30 a.m. in New York to discuss the financing backing its buyout by Apax Partners LLP, according to a person with knowledge of the transaction.

Bank of America Corp., Morgan Stanley, Credit Suisse Group AG and Royal Bank of Canada are arranging the deal which will include a $2.6 billion term loan and a $200 million revolving line of credit, said the person, who declined to be identified because the terms are private.

The transaction for the San Antonio-based includes bridge financing consisting of $1.25 billion of senior secured notes and $900 million of senior unsecured bonds, according to data compiled by Bloomberg.

Kevin Belgrade, a spokesman for Kinetic, didn’t immediately return a phone call seeking comment.

Kinetic agreed to be taken private by Apax, the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board for $68.50 per share.

--Editors: Faris Khan, Chapin Wright

To contact the reporters on this story: Krista Giovacco in New York at kgiovacco1@bloomberg.net; Michael Amato in New York at mamato3@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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