Gymboree talks $400 million eight-year notes with 9¼% area yield

By Paul A. Harris

St. Louis, Nov. 17 - Gymboree Corp. talked its $400 million offering of eight-year senior notes (Caa1/B-) with a 9¼% area yield on Wednesday, according to an informed source.

The Rule 144A with registration rights offering is expected to price on Thursday.

Morgan Stanley & Co. Inc. and Credit Suisse Securities are the joint bookrunners.

The notes come with four years of call protection.

Proceeds will be used to help fund the acquisition of the company by Bain Capital Partners LLC.

The issuing entity, Giraffe Acquisition Corp., is a corporation controlled by Bain Capital.

Gymboree is a San Francisco-based specialty retailer.

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