By Paul Deckelman
New York, May 8 - Wimm-Bill-Dann Foods sold $150 million of senior notes due May 21, 2008 (B3/B+), at par to yield 8½%, high-yield market sources said Thursday.
The notes priced in line with pre-deal market price talk. The company said it was oversubscribed by more than five times.
The Rule 144A/Regulation S offering came to market via bookrunner UBS Warburg.
The Russian-based dairy and juice producer plans to refinance $95 million of debt and to fund capital expenditures.
| Issuer: | Wimm-Bill-Dann Foods.
|
| Amount: | $150 million
|
| Maturity: | | May 21, 2008
|
| Security description: | Senior notes
|
| Bookrunner: | UBS Warburg
|
| Coupon: | 8½%
|
| Price | | Par
|
| Yield: | 8½%
|
| Spread: | 589 basis points over five-year Treasury
|
| Call features: | Non-callable
|
| Settlement date: | May 21, flat
|
| Ratings: | Moody's : B3
|
| Standard & Poor's: B+
|
| Rule 144A Cusip: | 90263MAA2
|
| Price talk: | 8½%
|
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