Merisant pulls income securities deal, terminates tender offer

New York, Nov. 1 - Merisant Worldwide Inc. said it has abandoned plans for an offering of Income Deposit Securities and a concurrent sale of senior subordinated notes.

The company blamed market conditions in an RW form filed with the Securities and Exchange Commission.

A Merisant Worldwide unit also terminated its tender offer and related consent solicitation for its 12¼% senior subordinated notes due 2014 while Merisant Co. pulled its tender offer for its 9½% senior subordinated notes due 2013 and the related noteholder consent solicitation.

Merisant had been planning a $775 million IDS offering, each IDS to be comprised of shares of class A common stock and senior subordinated notes due 2019. It was also planning a separate offering of identical senior subordinated notes due 2019.

Credit Suisse First Boston, RBC Capital Markets and Merrill Lynch & Co. were joint bookrunners for the sale.

The Chicago maker of low calorie tabletop sweeteners had planned to tender for the notes as part of the IDS transaction. The tender was announced on May 20.

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