("Fresenius Sets Pricing On EUR500M 7-Year Bond At 4.25% Area," at 1020 GMT, misstated the vehicle issuing the bond in the first paragraph. The correct version follows:)
-German medical care company Fresenius SE & CO. KGaA (>> Fresenius SE & Co KGaA) has set price guidance on its EUR500 million seven-year bond in the area of 4.25%, one of the banks on the deal said Wednesday.
The issue will be priced later Wednesday, and books on the deal are comfortably oversubscribed, said one of the banks on the deal. The issue was primarily targeted at retail accounts, which showed a good deal of interest, it added.
The bond will be used--among other corporate purposes--to fund the acquisition of hospital operator Damp Group, which Fresenius acquired in October 2011.
Expected ratings are Ba1 from Moody's Investors Service and BB+ from Standard & Poor's Corp. and Fitch Ratings.
Royal Bank of Scotland Group PLC, Deutsche Bank AG, Commerzbank AG, LBBW and Bayern LB are lead managers on the deal.
-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; firstname.lastname@example.org