Tops Holding plans to price $50 million add-on to 10 1/8% secured notes due 2015 on Tuesday

By Paul A. Harris

St. Louis, Feb. 8 - Tops Holding Corp. and Tops Markets, LLC plan to price a $50 million add-on to their 10 1/8% senior secured notes due Oct. 15, 2015 on Tuesday, according to an informed source.

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

Proceeds will be used to repay the company's $25 million bridge facility incurred to purchase assets of Penn Traffic Co., and to reduce the balance outstanding under Tops' ABL facility.

The notes feature a make-whole call at Treasuries plus 50 basis points until Oct. 15, 2012 andthen become callable at 105.063.

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

The original $275 million issue priced at 98.354 to yield 10½% on Oct. 1, 2009.

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