Garden Ridge sets Thursday investor call for $360 million notes offer

By Paul A. Harris

Portland, Ore., May 2 - Garden Ridge Corp. will host an investor call on Thursday to present a $360 million offering of seven-year senior secured notes, according to an informed source.

The Rule 144A for life deal is set to price during the middle part of the week ahead.

Jefferies & Co. Inc. and UBS Securities LLC are the joint bookrunners.

The notes will become callable after three years at par plus 75% of the coupon.

With respect to credit ratings the deal has a single B profile, according to the source.

Garden Ridge, a Houston-based superstore chain specializing in home decor, plans to use the proceeds to refinance its existing debt.

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