New Issue: Scotts $200 million 10-year notes yield 6 5/8%

By Paul A. Harris

St. Louis, Oct. 1 - The Scotts Co. sold $200 million of senior subordinated notes due Nov. 15, 2013 (Ba3/B+) at par Wednesday to yield 6 5/8%, according to a syndicate source.

Price talk was for a yield in the 6 5/8% area.

Citigroup, Banc of America Securities and JP Morgan were joint bookrunners on the Rule 144A deal. The co-managers were Banc One Capital Markets, BNP Paribas, Credit Lyonnais, McDonald, Scotia Capital and SunTrust Robinson Humphrey.

The Marysville, Ohio maker of consumer products for lawn and garden care will use proceeds to fund a tender for its 8 5/8% senior subordinated notes due 2009.

Issuer:	The
Amount:	$200 million
Maturity:	Nov. 15, 2013
Security description:	Senior subordinated notes
Bookrunners:	Citigroup, Banc of America Securities, JP Morgan
Coupon:	6 5/8%
Price:	Par
Yield:	6 5/8%
Spread:	268 basis points
Call features:	Callable after Nov. 15, 2008 at 103.313, then 102.208, 101.104, declining to par on Nov. 15, 2011 and thereafter
Payment dates	May 15 and Nov. 15, starting May 15, 2004
Settlement date:	Oct. 8 (T+10)
Ratings:	Moody's: Ba3
	Standard & Poor's: B+
Price talk:	6 5/8% area
Rule 144A Cusip:	810186AF3

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