Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Gibson Brands, Inc. > News item |
Gibson Brands launches $150 million tap of 8 7/8% notes due 2018 via Jefferies; pricing Tuesday
By Paul A. Harris
Portland, Ore., May 5 - Gibson Brands, Inc. launched a $150 million add-on to its 8 7/8% senior secured notes due Aug. 1, 2018 on Monday, an informed source said.
The deal, via bookrunner Jefferies LLC, is set to price on Tuesday.
The Rule 144A for life notes become callable on Feb. 1, 2016 at 106.656.
Proceeds will be used to fund the acquisition of WOOX Innovations Ltd., the consumer electronics division of Royal Phillips Electronics.
Gibson Brands is a Nashville, Tenn.-based designer, manufacturer, marketer and distributor of premium musical instruments, audio equipment and related accessories.
The original $225 million issue priced at par on July 24, 2013.
The add-on notes will be fungible with the original notes at the close of the acquisition and release of proceeds from escrow.
© 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.