Haights Cross to price $20 million add-on to 11¾% notes due 2011 Thursday via Bear Stearns

By Paul A. Harris

St. Louis, Dec. 1 - Haights Cross Operating Co. plans to price a $20 million add-on to its 11¾% senior notes due Aug. 15, 2011 on Thursday, according to an informed source.

Price talk is expected to circulate on Thursday morning, the source added.

Bear Stearns & Co. has the books for the Rule 144A add-on.

The notes become callable on Aug. 15, 2008 at 105.875, with the call premium declining annually from that date to 102.938, and to par on Aug. 15, 2010 and thereafter. The notes also contain an equity clawback until Aug. 15, 2006 for 35% at 111.75.

Proceeds will be used to fund future acquisitions and for other general corporate purposes.

The original $140 million issue priced at par on Aug. 7, 2003.

The company is a White Plains, N.Y.-based educational and library publisher.

© 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.