By Paul A. Harris
St. Louis, Dec. 12 -Roundy's Inc. priced a $75 million add-on to its 8 7/8% senior subordinated notes due June 15, 2012 (B2/B) at 99.50 on Thursday for an 8.954% yield to maturity, according to a syndicate source.
Price talk was 99-100.
Bear Stearns & Co. was the bookrunner. CIBC World Markets was co-manager.
Proceeds from the Rule 144A add-on will be used to fund the acquisition of Prescott's Supermarkets and for general corporate purposes.
The issuer is a Pewaukee, Wis.-based food wholesaler and retailer.
The original $225 million deal priced on May 23 at par.
Issuer: Roundy's Inc.
Amount: $75 million
Security description: Add-on to 8 7/8% senior subordinated notes due June 15, 2012
| Maturity: | June 15, 2012
|
| Coupon: | 8 7/8%
|
| Bookrunner: | Bear Stearns
|
| Co-manager: | CIBC World Markets
|
| Price: | 99.50
|
| Yield to maturity: | 8.954%
|
| Spread: | 596 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: | Dec. 17, 2002 flat
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Rule 144A Cusip: | 779268AG6.
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