Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Stater Bros. Holdings Inc. > News item |
Stater Bros. to sell $275 million eight-year notes via Banc of America
By Paul A. Harris
St. Louis, April 2 - Stater Bros. Holdings Inc. will host an investor call at 11 a.m. ET on Tuesday for its $275 million offering of eight-year senior notes (B2/B+), according to an informed source, who added that the deal is expected to price thereafter.
Banc of America Securities LLC is the bookrunner for the Rule 144A with registration rights deal.
The notes come with four years of call protection.
Proceeds will be used to redeem all of the Colton, Calif., supermarket chain's $175 million issue of floating-rate senior notes due 2010, to fund construction of its new distribution center and corporate offices, to purchase $15 million of its class A common stock and to pay a $5 million dividend to La Cadena Investments, its sole shareholder. Any remaining proceeds will be used for general corporate purposes.
© 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.