American Apparel talks $200 million secured notes with 13% yield

By Paul A. Harris

Portland, Ore., March 27 - American Apparel, Inc. has talked its $200 million offering of senior secured notes (Caa1/B-) at a yield of 13%, according to market sources.

The deal could price before the end of this week, according to one of the sources.

Cowen & Co. and Seaport Group are the joint bookrunners for the Rule 144A and Regulation S offering.

The Los Angeles-based clothing manufacturer plans to use the proceeds to refinance debt and for general corporate purposes.

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