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Ames True Temper $150 million seven-year notes talked Libor plus 400 to 425 bps
By Paul A. Harris
St. Louis, Jan. 10 - Ames True Temper Inc.'s $150 million of seven-year senior floating-rate notes were talked at three-month Libor plus 400 basis points to 425 basis points (B3/B), according to an informed source.
Pricing is expected to take place Tuesday morning.
Banc of America Securities and Credit Suisse First Boston are joint bookrunners for the Rule 144A offering.
The notes will come with two years of call protection.
Proceeds will be used to repay the company's term loan.
Ames True Temper is a Camp Hill, Pa.-based manufacturer and marketer of non-powered lawn and garden tools and accessories.
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