New Issue: Interline Brands prices $200 million eight-year notes to yield 11½%

By Paul A. Harris

St. Louis, May 12 - Interline Brands, Inc. sold $200 million of senior subordinated notes due May 15, 2011 (Caa1/B-) at par Monday to yield 11½%.

Price talk was for a yield of 11¼%-11½%.

Credit Suisse First Boston and JP Morgan were joint bookrunners. The co-managers were Fleet Securities, Wachovia Securities, Inc. and BNY Securities.

Proceeds from the Rule 144A deal will be used to fund the recapitalization.

The issuer is a Moorestown, N.J.-distributor of repair and maintenance products.

Issuer:	Interline Brands, Inc.
Amount:	$200 million
Maturity:	May 15, 2011
Security description:	Senior subordinated notes
Bookrunners:	Credit Suisse First Boston, JP Morgan
Co-managers:	Fleet Securities, Wachovia Securities, BNY Securities
Coupon:	11½%
Price:	Par
Yield:	11½%
Spread:	810 basis points
Call features:	Callable on May 15 2007 at 105.750, then at 102.875, declining to par on May 15, 2009 and thereafter
Equity clawback:	Until May 15, 2006 for 35% at 111.50
Settlement date:	May 23, 2003
Ratings:	Moody's: Caa1
	Standard & Poor's: B-
Rule 144A Cusip:	458743AA9
Price talk:	11¼%-11½%

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