RSI Home Products expected to sell $575 million eight-year second-lien notes to fund tender offer

By Paul A. Harris

Portland, Ore., March 2 – RSI Home Products, Inc. is expected to sell $575 million of eight-year second-lien senior secured notes (B1/B+), according to a market source, who added that the deal will be led by BofA Merrill Lynch.

Timing of the bond offer remains to be announced.

Proceeds will be used to fund the tender offer for the company’s 6 7/8% senior secured second-lien notes due 2018, an offer that expires on March 28.

RSI Home Products is an Anaheim, Calif.-based manufacturer of kitchen, bath and home storage cabinets.

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