Dispensing Dynamics' $125 million five-year notes talked with 12½% coupon at 98, to price Wednesday

By Paul A. Harris and Aleesia Forni

Columbus, Ohio, Dec. 19 - Dispensing Dynamics International has set talk on its proposed $125 million issue of five-year senior secured notes (B3/B-) with a coupon of 12½% at 98, a market source said.

Books close at 3:30 p.m. ET on Wednesday, and pricing is expected shortly thereafter.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S for life deal.

The notes will be non-callable for three years and carry an excess cash flow redemption at 103.

Proceeds will be used to refinance debt and fund a dividend to shareholders.

Dispensing Dynamics is a City of Industry, Calif.-based designer of products used primarily in commercial washroom settings.

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