Holders of notes who tendered prior to midnight, New York City time, on April 4, 2002 (the expiration date of the consent solicitation period) will receive the tender offer consideration plus the consent payment of $20.00 per $1,000 principal amount of notes.
The tender offer consideration was determined using the yield of the 4.625% U.S. Treasury Note due May 15, 2006 (the applicable reference security), plus a fixed spread of 87.5 basis points. The yield on the applicable reference security, as calculated by Credit Suisse First Boston Corporation at 2:00 p.m., New York City time, on April 23, 2002, was 4.374%. Accordingly, the tender offer yield and the tender offer consideration per $1,000 principal amount of notes are 5.249% and $1,159.32, respectively. The total consideration is $1,179.32. These prices assume an April 26, 2002 payment date.
The Supplemental Indenture referred to in the Offer to Purchase and Consent Solicitation dated March 21, 2002 was executed on April 16, 2002 upon DaVita's receipt of consents to proposed amendments to the Indenture governing the Notes from holders of a majority of the aggregate principal amount of the Notes.
Credit Suisse First Boston Corporation and Banc of America Securities LLC are acting as the Dealer Managers in connection with the tender offer and consent solicitation. The Information Agent is Georgeson Shareholder. Persons with questions regarding the tender offer and consent solicitation should contact Credit Suisse First Boston Corporation at either 212-538-8474 or 800-820-1653 or Banc of America Securities LLC at either 704-388-9217 or 888-292-0070.
DaVita is a leading provider of dialysis services for patients suffering from chronic kidney failure. The Company owns and operates kidney dialysis centers and home peritoneal dialysis programs domestically in 32 states, as well as Washington, D.C. As of December 31, 2001 we operate 493 outpatient dialysis facilities serving over 42,000 patients, including 3,300 patients in 32 centers under management. We also provide acute hemodialysis services to inpatients at approximately 280 hospitals.
SOURCE: DaVita Inc.
Contact: LeAnne Zumwalt of DaVita Inc., +1-310-750-2072