Stripes talks $170 million eight-year notes at 10¾% area, pricing Thursday

By Paul A. Harris

St. Louis, Dec. 14 - Co-issuers Stripes Acquisition and Susser Finance are talking their $170 million offering of eight-year senior notes in the 10¾% area, according to an informed source.

Pricing is expected Thursday afternoon.

Banc of America Securities LLC and Merrill Lynch & Co. are joint bookrunners for the notes offering, which is being marketed via Rule 144A with registration rights.

The notes come with four years of call protection.

Proceeds will be used to partially fund the acquisition of Susser Holdings and repay existing debt.

The prospective issuer is an independent convenience store operator and non-refining fuel distributor based in Houston.

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