Rotech Offers $230 Million in Notes

ORLANDO, Fla. — Rotech Healthcare said Thursday it is selling $230 million worth of senior secured notes that are due in 2015.

The company estimates net proceeds from the offering at $223.5 million, which it plans to use, together with cash on hand, to repay a $226 million term loan. The offering is expected to close Oct. 6, according to a release.

In July, the giant respiratory provider announced it had accepted 17 contracts in the Round 1 rebid of competitive bidding.