By Paul A. Harris
St. Louis, March 24 - AmeriQual Group LLC and AmeriQual Finance Corp. priced $105 million of seven-year senior secured notes (B1/B+) at par to yield 9%, according to an informed source.
Price talk was 8 7/8% to 9%.
Jefferies & Co. ran the books for the Rule 144A/Regulation S issue.
Proceeds will be used to purchase 50% of the company not owned by Aries Capital.
The issuer is an Evansville, Ind., supplier of shelf stable food rations for the U.S. Department of Defense.
| Issuer: | AmeriQual Group LLC and AmeriQual Finance Corp.
|
| Amount: | $105 million
|
| Maturity: | April 1, 2012
|
| Security description: | Senior secured notes
|
| Bookrunner: | Jefferies & Co.
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Spread: | 459 basis points
|
| Call features: | Callable after April 1, 2009 at 104.50, 102.250, par on or after April 1, 2011
|
| Equity clawback: | Until April 1, 2008 for 35% at 109.0
|
| Trade date: | March 24
|
| Settlement date: | March 31
|
| Ratings: | Moody's B1
|
| Standard & Poor's: B+
|
| Price talk: | 8 7/8%-9%
|
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