NBTY to pay down loans, to redeem 9% notes, Alphabet’s 7¾%/8½% notes

By Susanna Moon

Chicago, April 15 – NBTY Inc. plans to redeem all of its 9% senior notes due 2018, to repay its senior secured credit facilities and to fund the redemption of all of the 7¾%/8½% contingent cash pay senior notes due 2017 issued by Alphabet Holding Co., Inc., the parent company.

NBTY plans to fund the redemptions and paydown with proceeds of its $1,075,000,000 principal amount of senior notes due 2021 in a private placement under Rule 144A and Regulation S, according to a company press release.

The offering will settle at about the same time as, and is conditioned upon, the closing of the company’s new senior secured credit facilities, the release noted.

NBTY is a Ronkonkoma, N.Y.-based manufacturer, marketer, distributor and retailer of vitamins and nutritional supplements.

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