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