By Paul A. Harris
St. Louis, Jan. 31 - Anchor Glass Container priced $300 million of senior secured notes due Feb. 15, 2013 (B2/B+) at par Friday to yield 11%, according to a syndicate source.
Price talk was 10½%-10¾%.
Deutsche Bank Securities Inc., Credit Suisse First Boston and Banc of America Securities were joint bookrunners.
Proceeds from the Rule 144A deal will be used to refinance debt.
The issuer is a Tampa, Fla.-based glass container company.
| Issuer: | Anchor Glass Container
|
| Amount: | $300 million
|
| Maturity: | Feb. 15, 2013
|
| Security description: | Senior secured notes
|
| Bookrunners: | Deutsche Bank Securities, Credit Suisse First Boston, Banc of America Securities (joint)
|
| Coupon: | 11%
|
| Price: | Par
|
| Yield: | 11%
|
| Spread: | 703 basis points
|
| Call features: | Non-callable for five years
|
| Equity clawback: | Until 2006 for 35% at 111.0
|
| Settlement date: | Feb. 7, 2003
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B+
|
| Price talk: | 10½%-10¾%
|
|
|
© 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.
