Interline plans new notes offering, new credit facility

New York, May 23 - Interline Brands, Inc. said it plans to sell new senior subordinated notes in an underwritten public offering and obtain a new bank credit facility.

Proceeds will be used to fund the planned acquisition of American Sanitary and to refinance the company's existing debt, including its outstanding 11½% senior subordinated notes due 2011.

The financings are expected to be completed by the beginning of the third quarter.

Both new debt transactions will be via operating subsidiary, Interline Brands, Inc., a New Jersey corporation.

Interline also announced a tender offer for its existing 11½% notes.

Credit Suisse Securities (USA) LLC and Lehman Brothers Inc. are dealer managers for the tender.

Interline is a Jacksonville, Fla., distributor and direct marketer of specialty maintenance, repair and operations products.

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