Bank of New York Co. and Donaldson, Lufkin & Jenrette Securities Corp. are co-arranging a $1 billion leveraged financing for Total Renal Care Holdings Inc. that features a bond and loan hybrid structure.

Bank of New York is also acting as administrative agent, and Donaldson Lufkin Jenrette is syndication agent for the loan to Torrance, Calif.-based Total Renal Care.

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