By Paul A. Harris
St. Louis, Mo., May 23 - Roundy's, Inc. upsized to $225 million from $200 million its offering of senior subordinated notes due June 15, 2012 (B2/B) and priced them Thursday at par to yield 8 7/8%, according to a syndicate source.
Price talk was 8 7/8%-9%.
Bear Stearns & Co. was the bookrunner. CIBC World Markets was co-manager.
Proceeds from the Rule 144A deal will be used to help fund the leveraged buyout of the Pewaukee, Wis. supermarket company by Willis Stein.
Issuer: Roundy's, Inc.
Amount: $225 million (increased from $200 million)
Maturity: June 15, 2012
Type: Senior subordinated notes
Bookrunner: Bear Stearns
Co-manager: CIBC World Markets
Coupon: 8 7/8%
Price: Par
Yield: 8 7/8%
Price talk: 8 7/8%-9%
Spread: 381 basis points
Call features: Callable on June 15, 2007 at 104.438, 102.958, 101.479, par on June 15, 2010 and thereafter
Equity clawback: Until June 15, 2005 for 35% at 108.875
Settlement date: June 6, 2002 (T+9)
Ratings: Moody's: B2
| Standard & Poor's: B
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| Rule 144A CUSIP: | 779268AD3
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