Domino's downsizes eight-year notes to $400 million, talked at 8½% area, pricing Wednesday

By Paul A. Harris

St. Louis, June 17 - Price talk of a yield in the 8½% area emerged Tuesday on Domino's, Inc.'s downsized sale of $400 million senior subordinated notes due 2011 (B3/B-), according to a market source.

The offering had previously been sized at $450 million. The $50 million amount by which the bond deal was downsized was added to the company's credit facility, according to the source.

The deal is expected to price on Wednesday morning, the source added.

JP Morgan is the bookrunner for the Rule 144A/Regulation S offering.

The Ann Arbor, Mich. pizza chain operator will use proceeds to pay a dividend to the owners and take out a tranche of preferred stock.

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