Radiology Partners turns to high-yield bonds for Everlight Radiology acquisition

Radiology Partners sold high-yield bonds yielding 10% to fund its acquisition of Everlight Radiology amid a weak lending market, the company confirmed.

• The bonds carry a 9.75% coupon, issued at a discount for an all-in yield of 10%.
• The practice also increased its undrawn revolving credit line from $415 million to $520 million and plans to pay down $67 million of its second-lien notes.
• Moody’s assigned a stable outlook, noting the practice’s strong competitive position but high leverage and an ongoing radiologist shortage.

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