New Issue: Tabletop Holdings $75 million proceeds 11-year discount notes yield 12¼%

By Paul A. Harris

St. Louis, Nov. 6 - Tabletop Holdings, Inc. sold $75 million proceeds of senior subordinated discount notes due May 15, 2014 (Caa1/B-) at 55.131 on Thursday to yield 12¼%, according to an informed source.

Price talk was for a yield of 12¼%-12½%.

Credit Suisse First Boston ran the books on the Rule 144A transaction. Jefferies & Co. was co-manager.

The issue, parent of Chicago-based sweetener company, Merisant Co., will use proceeds to fund a dividend payment.

Issuer:	Tabletop Holdings, Inc.
Face amount:	$136.04 million
Proceeds:	$75 million
Maturity:	May 15, 2014
Security description:	Senior subordinated discount notes
Bookrunner:	Credit Suisse First Boston
Co-manager:	Jefferies & Co.
Coupon:	0/12¼%
Price:	55.131
Yield to maturity:	12¼%
Spread:	785 basis points over 4¼% Treasuries due August 2013
Call features:	Callable after Nov. 15, 2008 at 106.125, then 104.083, 102.042, declining to par on Nov. 15, 2011 and thereafter
Special call feature:	Callable at 112.25 until Nov. 15, 2006 on change of control
Equity clawback:	Until Nov. 15, 2006 at 112.25 for up to 35%
Settlement date:	Nov. 12, 2003 (T+3)
Interest payment dates:	May 15, and Nov. 15, commencing May 15, 2004
Ratings:	Moody's: Caa1
	Standard & Poor's: B-
Rule 144A Cusip:	87336NAA9
Price talk:	12¼%-12½%

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