American Seafoods pulls $450 million income securities deal

By Paul A. Harris

St. Louis, Oct. 5 - American Seafoods Group LLC has withdrawn its $450 million offering of Income Deposit Securities (IDS), the Seattle-based company said in a news release Tuesday.

As a result the company expects to record a charge of up to $19 million related to the IDS offering costs.

CIBC World Markets and Merrill Lynch & Co. were leading the deal.

The company had postponed the offering in August due to poor market conditions.

Proceeds from the offering were to be used to indirectly redeem additional equity from owners of affiliate American Seafoods LP.

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