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Gristede's Foods $175 million 10-year notes talked at 11%-11¼%, pricing expected Friday
By Paul A. Harris
St. Louis, Mo., June 27 - The market heard official price talk of 11%-11¼% Thursday on Gristede's Foods, Inc.'s planned $175 million of 10-year senior notes (B2/B+), according to a syndicate source. The deal is expected to price Friday.
Deutsche Bank Securities Inc. and Jefferies & Co. are the bookrunners.
The Rule 144A notes are non-callable for five years.
Proceeds will be used to fund the acquisition of Kings Supermarkets and to repay debt.
The New York City-based company operates approximately 40 supermarkets, most located in Manhattan.
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