Vector plans to price $150 million tap of 7¾% notes due 2021 Tuesday

By Paul A. Harris

Portland, Ore., April 8 - Vector Group Ltd. plans to price a $150 million tack-on to its 7¾% senior secured notes due Feb. 15, 2021 on Tuesday following a late-morning conference call with investors, an informed source said.

Jefferies LLC is the bookrunner for the Rule 144A and Regulation S with registration rights offering.

The notes become callable on Feb. 15, 2016 at 105.813.

Proceeds will be used for general corporate purposes.

Vector is a Miami-based holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC.

The original $450 million issue priced at par in February 2013.

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