By Paul A. Harris
St. Louis, Mo., April 3 - Regal Cinemas Corp. sold a $150 million add-on to its 9 3/8% senior subordinated notes due Feb. 1, 2012 (B3/B-) in a drive-by offering Wednesday which priced at 103.50 for a yield to maturity of 8.831% and a yield to worst of 8.743%, according to a syndicate source.
Price talk, according to one source, was the 105.00 area.
Credit Suisse First Boston was bookrunner.
Proceeds will be used to finance the roll-up of Edwards Theaters into Regal.
The original offering of $200 million priced on Jan. 17, 2002 at par to yield 9 3/8%.
Issuer: Regal Cinemas Corp.
Amount: $150 million
Type: Add-on to its 9 3/8% senior subordinated notes due Feb. 1, 2012
Manager: Credit Suisse First Boston
Coupon: 9 3/8%
Price: 103.50
Yield to worst: 8.743%
Yield to maturity: 8.831%
Spread: 343 basis points over the 4 7/8% Treasury due Feb., 2012
Call features: Callable on Feb. 1, 2007 at 104.688, 103.125, 101.563, par on Feb. 1, 2010 and thereafter
Equity clawback: Until Feb. 1, 2005 for 35% at 109.375
Settlement date: April 17 with accrued interest
Ratings: Moody's: B3
| Standard & Poor's: B-
|
| Rule 144A CUSIP: | 758753AA5
|
|
|
© 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.
