Levi Strauss talks $325 million term loan at Libor plus 225 bps to price at 99-99.5

By Paul A. Harris

St. Louis, March 8 - Levi Strauss & Co. has set price guidance for its $325 million seven-year senior unsecured term loan (B2/B) at Libor plus 225 basis points to price at an original issue discount of 99.00 to 99.50, according to a market source.

Commitments are due at 1 p.m. ET on Friday.

Banc of America Securities LLC is the lead bookrunner. Goldman Sachs & Co. is joint bookrunner.

The loans will non-callable for one year and at par thereafter.

Proceeds and cash on hand will be used to call the company's existing floating-rate notes due 2012.

Levi Strauss is a San Francisco apparel maker.

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