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Ralcorp to repay term loan with $775 million of Post's 7 3/8% notes
By Angela McDaniels
Tacoma, Wash., Jan. 31 - Ralcorp Holdings, Inc. will deliver $775 million of 7 3/8% senior notes due 2022 issued by Post Holdings, Inc. as repayment for its $775 million term loan due April 19, 2012, according to an 8-K filing with the Securities and Exchange Commission.
The repayment will be made on Feb. 3 under an agreement reached on Jan. 27.
The company entered into the term loan on Jan. 20. Among other things, the proceeds were used to repay Ralcorp's $550 million term loan due Oct. 2, 2012, which was terminated.
Barclays Bank plc is the administrative agent.
Ralcorp purchased the 7 3/8% notes from selling noteholders on Jan. 27.
Ralcorp is a St. Louis-based manufacturer of private-brand food products, ready-to-eat cereal products and other regional and value-brand food products. It plans to spin off Post, which makes cereal, to its shareholders.
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