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K2 upsized $200 million 10-year note offering talked to yield 7 3/8%-7 5/8%, to price Thursday
By Paul A. Harris
St. Louis, June 23 - K2 Inc. upsized its offering of 10-year senior notes (Ba3/BB) to $200 million from $150 million and issued price talk for the issue of 7 3/8% to 7 5/8%, according to an informed source.
The deal is expected to price on Thursday afternoon.
JP Morgan is running the books for the Rule 144A offering. Banc of America Securities is the co-manager.
The notes will have a make-whole call at Treasuries plus 50 basis points for the first five years and then will become callable at a premium.
The company is also making a $75 million equity offering.
Proceeds will be used to fund the acquisition of Volkl Sports Holding AG, The Marker Group and Marmot Mountain Ltd. and to repay debt.
The company is a Carlsbad, Calif.-based sporting goods manufacturer and marketer.
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