Care UK Sets Yield Guidance On GBP250M 7Y Bond At 9.75% Area

15th Jul 2010 09:15

LONDON (Dow Jones)--Care UK Health and Social Care PLC has set yield guidance on its planned GBP250 million senior secured bonds maturing in 2017 in the area of 9.75%, one of the banks working on the transaction said Thursday. The issuer is the parent company of Care UK Ltd., a provider of health and social care services, which was acquired by private equity firm Bridgepoint earlier this year. The new bonds will be non-callable for four years and are expected to be rated B+ by Moody's Investors Service Inc. and B2 by Standard & Poor's Corp. Citigroup Inc., Royal Bank of Scotland Group PLC, BNP Paribas SA, HSBC Holdings PLC, and ING NV are acting as bookrunners. -By Mark Brown and Ainsley Thomson, Dow Jones Newswires; + 44 (0)207 842 9485; [email protected] (END) Dow Jones Newswires July 15, 2010 04:15 ET (08:15 GMT)