By Paul A. Harris
St. Louis, Mo., June 13 - Advanced Medical Optics, Inc. upsized to $200 million from $175 million its offering of senior subordinated notes due July 15, 2010 (B2/B) and priced them Thursday at 98.597 to yield 9½%, according to a syndicate source.
Price talk was the 9½% area.
Merrill Lynch & Co. and Banc of America Securities were joint bookrunners. The co-managers were ABN Amro and Banc One Capital Markets.
Proceeds from the Rule 144A notes will be used to fund the spin-off from Allergan and to repay debt.
The issuer markets and manufactures eye-care products.
Issuer: Advanced Medical Optics, Inc.
Amount: $200 million (increased from $175 million)
Maturity: July 15, 2010
Type: Senior subordinated notes
Bookrunners: Merrill Lynch, Banc of America Securities (joint)
Co-managers: ABN Amro, Banc One Capital Markets
Coupon: 9¼%
Price: 98.597
Yield: 9½%
Price talk: 9½% area
Spread: 460 basis points over the 10-year Treasury
Call features: Callable on July 15, 2006 at 104.625, 103.083, 101.542, par on July 15, 2009 and thereafter
Equity clawback: Until July 15, 2005 for 35% at 109.25
Settlement date: June 20, 2002
Ratings: Moody's: B2
| Standard & Poor's: B
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| Rule 144A CUSIP: | 00763MAA6
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