New Issue: AMF Bowling sells $150 million six-year notes to yield 10%

By Paul A. Harris

St. Louis, Feb. 19 - AMF Bowling Worldwide Inc. sold $150 million of six-year senior subordinated notes (B3/CCC+) Thursday at par to yield 10%, according to an informed source.

Price talk was 9¾% to 10%.

Merrill Lynch & Co. and Credit Suisse First Boston were joint bookrunners on the Rule 144A issue.

Proceeds will be used to help support the leveraged buyout by an affiliate of Code Hennessy & Simmons LLC.

Richmond, Va.-based AMF Bowling owns and operates bowling centers and manufactures bowling equipment.

Issuer:	AMF Bowling Worldwide Inc.
Amount:	$150 million
Maturity:	March 1, 2010
Security description:	Senior subordinated notes
Bookrunners:	Merrill Lynch & Co., Credit Suisse First Boston
Coupon:	10%
Price:	Par
Yield:	10%
Spread:	663 basis points
Call features:	Callable after March 1, 2007 at 105.0, 102.50, par on March 1, 2009 and thereafter
Equity clawback:	Until March 1, 2007 for 35% at 110.0
Pricing date:	Feb. 19
Settlement date:	Feb. 27
Ratings:	Moody's: B3
	Standard & Poor's: CCC+
Price talk:	9¾%-10%

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