By Paul A. Harris
St. Louis, March 12 - Levi Strauss & Co. has priced a $325 million Libor plus 225 basis points seven-year senior unsecured term loan (B2/B) at 99.25, according to an informed source.
The original issue discount was fixed in the middle of the 99.00 to 99.50 price talk range.
Banc of America Securities LLC was the lead bookrunner. Goldman Sachs & Co. was joint bookrunner.
Proceeds, along with 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.
Issuer: | Levi Strauss & Co.
|
Face amount: | $325 million
|
Proceeds: | $322.56 million
|
Maturity: | April 1, 2014
|
Description: | Senior unsecured term loan
|
Lead bookrunner: | Banc of America Securities LLC
|
Joint bookrunner: | Goldman Sachs & Co.
|
Coupon: | Libor plus 225 bps
|
Price: | 99.25
|
Call protection: | Non-callable before April 1, 2008, thereafter at par
|
Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
Price talk: | Libor plus 225 bps at 99.00 to 99.50
|
© 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.