Eye Care Centers' $150 million 10-year notes talked 10% to 10¼%, to price Friday

By Paul A. Harris

St. Louis, Jan. 27 - Eye Care Centers of America's $150 million offering of 10-year senior subordinated notes (Caa1/CCC+) received price talk of 10% to 10¼%, according to market sources.

The notes are expected to price on Friday afternoon.

The notes will be non-callable for five years.

JP Morgan is the bookrunner for the Rule 144A with registration rights offering.

The company will also obtain a $165 million senior secured term loan B and a $25 million senior secured revolving credit facility.

Proceeds will be used to fund the acquisition of Eye Care Centers by Moulin International Holdings Ltd. and Golden Gate Capital from Thomas H. Lee.

Eye Care Centers is a San Antonio, Texas-based optical retail chain.

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