Levi Strauss sells further $50 million 12¼% notes to AIG

New York, Jan. 13 - Levi Strauss & Co. said it sold a further $50 million of its 12¼% senior notes in a private placement with AIG Global Investment Corp.

The San Francisco clothing company said the additional notes will form part of the same issue as the 12¼% senior notes sold in November. Those notes mature Dec. 15, 2012. Levi Strauss sold $425 million of them on Nov. 26 at 98.581 to yield 12½% via bookrunners Salomon Smith Barney and Banc of America Securities.

Levi Strauss said it will use proceeds from the extra $50 million to help its $277 million principal amount 6.80% notes due Nov. 1, 2003 or other outstanding debt, either through payment at maturity, repurchase or other means. The original issue was for the same purpose. At that point there was $350 million of the 6.80% notes outstanding.

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