New Issue: RadioShack sells upsized $325 million 6¾% eight-year notes at 99.234 to yield 6 7/8%

By Paul A. Harris

Portland, Ore., April 28 - RadioShack Corp. priced an upsized $325 million issue of 6¾% eight-year senior notes (Ba2/BB/BB) 99.234 to yield 6 7/8% on Thursday, according to an informed source.

The yield printed on top of the price talk.

Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities were the joint bookrunners for the issue, which was upsized from $300 million.

Proceeds will be used for general corporate purposes, including the repurchase of stock.

RadioShack is a Fort Worth, Texas-based communications, technology and power supply products retailer.

Issuer:	RadioShack Corp.
Face amount:	$325 million, increased from $300 million
Proceeds:	$297,702,000
Maturity:	May 15, 2019
Securities:	Senior notes
Bookrunners:	Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC
Coupon:	6¾%
Price:	99.234
Yield:	6 7/8%
Spread:	381 bps
Call protection:	Non-callable (Make-whole provision at Treasuries plus 50 bps)
Equity clawback:	35% at 106.75 until May 15, 2014
Change-of-control put:	101%
Trade date:	April 28
Settlement date:	May 3
Ratings:	Moody's: Ba2
	Standard & Poor's: BB
	Fitch: BB
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	6 7/8% area
Marketing:	Roadshow

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.