By Paul A. Harris
St. Louis, April 27 - Ralcorp Holdings, Inc. privately placed an upsized $100 million amount of senior notes in two tranches, according to a market source.
The deal, which doubled from the $50 million which the St. Louis-based conglomerate initially launched, came in tranches of 10-year notes, which priced at Treasuries plus 450 basis points, and 12-year notes, which came at Treasuries plus 455 bps.
SPP Capital was the placement agent.
Ralcorp is viewed as an NAIC-2 issuer by the National Association of Insurance Commissioners.
Ralcorp produces a variety of store brand foods that are sold under the individual labels of various grocery, mass merchandise and drug store retailers. In addition, Ralcorp holds a 21.5% interest in Vail Resorts, Inc.
| Issuer: | Ralcorp Holdings, Inc.
|
| Amount: | $100 million, increased from $50 million
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| Security description: | Senior notes
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| NAIC Level: | 2
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| Call protection: | Non-callable
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| Placement agent: | SPP Capital
|
|
|
| 10-year notes
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| Maturity: | 10 years
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| Spread: | Treasuries plus 450 bps
|
|
|
| 12-year notes
|
| Maturity: | 12 years
|
| Spread: | Treasuries plus 455 bps
|
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