New Issue: Seminis prices $140 million add-on to 10¼% notes due 2013 to yield 8.620%

By Paul A. Harris

St. Louis, Jan. 15 - Seminis Vegetable Seeds Inc. priced a $140 million add-on to its 10¼% senior subordinated notes due Oct. 1, 2013 (B3/B-) Thursday at 109 to yield 8.620%, according to an informed source.

Price talk was in the 109 area.

Citigroup was the bookrunner.

Proceeds will be used to repay $100 million of the company's existing term loan B with the rest to fund potential future acquisitions.

The company is an Oxnard, Calif.-based fruit and vegetable producer.

Issuer:	Seminis Vegetable Seeds Inc.
Amount:	$140 million
Security description:	Add-on to the 10¼% senior subordinated notes due Oct. 1, 2013
Maturity:	Oct. 1, 2013
Bookrunner:	Citigroup
Price:	109
Coupon:	10¼%
Yield to worst:	8.620%
Yield to maturity:	8.844%
Spread:	463 basis points
Call features:	Callable after Oct. 1, 2008 at 105.125, 103.417, 101.708, par on Oct. 1, 2011 and thereafter
Equity clawback:	Until Oct. 1, 2006 for 35% at 110.25
Pricing date:	Jan. 15
Settlement date:	Jan. 23, with accrued interest
Ratings:	Moody's: B3
	Standard & Poor's: B-
Price talk:	109 area

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