E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 7/8/2004 in the Prospect News High Yield Daily.

New Issue: Star Gas $30 million add on to notes due 2013 yield 8.97%

New York, July 8 - Star Gas Partners, LP priced a $30 million add-on to its 10¼% senior notes due 2013 to yield 8.97%.

Gross proceeds were $31.9 million.

The Stamford, Conn. energy distributor and services provider plans to use proceeds to repay debt.

The deal was offered under Rule 144A and Regulation S.

No further details were available by press time.

Star Gas previously priced a $35 million add on to the deal on Jan. 13 at 110.5 to yield 8.23%. Wachovia Securities was the bookrunner.

The original $200 million issue priced Feb. 3, 2003 at 98.466 to yield 10½%. via JPMorgan and Wachovia.

Issuer:Star Gas Partners LP
Amount:$30 million
Procees:$31.9 million
Security description:Add-on to 10¼% senior notes
Maturity:Feb. 15, 2013
Yield:8.97%
Call features:Callable on Feb. 15, 2008 at 105.125, 103.417, 101.708, par on Feb. 15, 2011 and thereafter
Equity clawback:Until Feb. 15, 2006 for 35% at 110.25
Settlement date:July 15, with accrued interest

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.