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Published on 2/4/2004 in the Prospect News High Yield Daily.

New Issue: AmeriPath $80.3 million proceeds add-on to 10½% notes due 2013 yields 9.116%

By Paul A. Harris

St. Louis, Feb. 4 - AmeriPath Inc. priced an $80.3 million proceeds add-on to the company's 10½% senior subordinated notes due April 1, 2013 Wednesday at 107.125 for a yield to worst of 9.116%, a syndicate source said.

The add-on had a face amount of $75 million.

Credit Suisse First Boston, Deutsche Bank Securities, Citigroup and Wachovia Securities were joint bookrunners on the Rule 144A/Regulation S issue.

Proceeds will be used to repay bank debt.

The original $275 million issue priced on March 13, 2003.

AmeriPath is a Riviera Beach, Fla.-based provider of cancer diagnostics, genomics and related information services.

Issuer:AmeriPath Inc.
Face amount:$75 million
Proceeds:$80,343,750
Security description:Add-on to the 10½% senior subordinated notes due April 1, 2013
Maturity:April 1, 2013
Bookrunners:Credit Suisse First Boston, Deutsche Bank Securities, Citigroup, Wachovia Securities
Coupon:10½%
Price:107.125
Yield to worst:9.116%
Spread:544 basis points
Call features:Callable after April 1, 2008 at 105.250, 103.500, 101.750, par on April 1, 2011 and thereafter
Equity clawback:Until April 1, 2006 at 110.50 for up to 35%
Pricing date:Feb. 4
Settlement date:Feb. 12, with accrued interest

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