Wild Oats $100 million convertible talked at 2.75%-3.25%, up 40%-45%

By Ronda Fears

Nashville, May 24 - Wild Oats Markets Inc. early Monday launched $100 million 30-year convertible notes talked to yield 2.75% to 3.25% with a 40% to 45% initial conversion premium.

JPMorgan Securities and Banc of America Securities are joint bookrunners of the 144A deal, which is scheduled to price after the close Tuesday.

The senior debentures will be non-callable for seven years with puts in years seven, 10 and 20.

There is a $15 million greenshoe available.

The Boulder, Colo.-based health food grocer plans to use proceeds to accelerate its growth plans and for general corporate purposes, which may include allocating up to 25% of proceeds to purchase stock either concurrent with the offering or from time to time in the future.

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