By Paul A. Harris
St. Louis, Mo., July 31 - Mothers Work, Inc. priced $125 million of senior notes due Aug. 1, 2010 on Wednesday at 98.719 to yield 11½%, according to a syndicate source.
Price talk was for a yield in the 11¼% area.
Credit Suisse First Boston ran the books on the registered deal, which came concurrently with an initial public offering of common stock.
Proceeds will be used to repay $91.09 million of 12 5/8% senior notes due 2010.
The issuer is a Philadelphia-based designer of maternity apparel.
Issuer: Mothers Work, Inc.
Amount: $125 million
Maturity: Aug. 1, 2010
Type: Senior notes
Bookrunner: Credit Suisse First Boston
Coupon: 11¼%
Price: 98.719
Yield: 11½%
Price talk: 11¼% area
Spread: 719 basis points over the 5¾% Treasury of Aug. 2010
Call features: Callable on Aug. 1, 2006 at 105.625, 103.75, 101.875, par on Aug. 1, 2009 and thereafter
Equity clawback: Until Aug. 1, 2005 for 35% at 111.25
Settlement date: Aug. 5, 2002
Ratings: Moody's: B3
| Standard & Poor's: B+
|
| CUSIP: | 619903AC1
|
|
|
© 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.
