Tops Markets to sell $250 million six-year notes during Sept. 28 week

By Paul A. Harris

St. Louis, Sept. 24 - Tops Holding Corp. and Tops Markets, LLC plan to price a $250 million issue of six-year senior secured notes during the Sept. 28 week, according to an informed source.

Morgan Stanley & Co. Inc. and Bank of America Merrill Lynch are joint bookrunners for the Rule 144A and Regulation S with registration rights offering.

Credit ratings remain to be determined.

The notes will come with three years of call protection.

Proceeds, along with proceeds from the ABL facility and cash on hand, will be used to refinance bank debt and the company's warehouse mortgage agreement, to pay the related swap agreement termination costs and to make a distribution to equity holders.

Tops is a grocery store chain based in Buffalo, N.Y.

© 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.