Sbarro talks $150 million eight-year notes at 10½%-10¾%

By Paul A. Harris

St. Louis, Jan. 23 - Sbarro, Inc. talked its $150 million offering of eight-year senior notes (Caa1/CCC) at 10½% to 10¾% on Tuesday, according to an informed source.

The deal could price as early as Wednesday afternoon, the source added.

Credit Suisse and Banc of America Securities LLC are joint bookrunners for the notes, which are being marketed via Rule 144A with registration rights and via Regulation S.

Proceeds will be used to help finance the acquisition of the company by MidOcean Partners III, LP and fund the tender for Sbarro's 11% senior notes due 2009.

Sbarro is a Melville, N.Y.-based Italian restaurant company.

© 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.