By Paul A. Harris
St. Louis, July 24 - ASG Consolidated Inc. has added $55 million to its issue of 11½% senior discount notes due Nov. 1, 2011 (B3/B+/) in a private placement, according to a market source.
The entire amount was taken down by a single bank, the source added.
Proceeds will be used to fund a distribution.
The original $196 million issue priced at 63.70 in October 2004.
The issuer is a Seattle-based integrated seafood company.
| Issuer: | ASG Consolidated Inc.
|
| Amount: | $55 million
|
| Maturity: | Nov. 1, 2011
|
| Security description: | Add-on to 11½% senior discount notes
|
| Cash coupon: | 0% until Nov. 1, 2008, then 11½%
|
| Call: | Callable on Nov. 1, 2008 at 105.75
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
| Distribution: | Private placement
|
| Original issue: | $196 million priced at 63.7 in October 2004
|
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