Wachovia Securities and UBS Warburg are delaying the launch of a credit on behalf of US Oncology, a cancer research concern, until mid-December. The deal was supposed to hit the market this month, but has been postponed due to the holidays, said Bruce Broussard, cfo of US Oncology. "We felt with the holidays and outstanding structural requirements we needed to get done we would move it until after the holidays," he said. As it is structured now, the deal consists of a $100 million revolver and a $75 million asset-sale bridge facility. Wachovia and UBS Warburg are also supposed to lead a follow-on bond deal sometime next year. The size of the bond deal could not be determined by press time. Broussard did not return repeated calls further inquiring about possible structural changes to the deal. Price talk on the deal was unavailable, but sources noted that leverage on the deal is supposed to be less than two times.
Cancer Research Deal Rescheduled