Harry & David announces IPO to repay part of notes

By Ted A. Knutson

Washington, Aug. 4 - Harry & David Holding, Inc. announced an initial public offering of common stock to repay $24.5 million of floating-rate notes and $61.3 million of 9% senior notes maturing March 1, 2013.

As of March 26, the firm had $70.0 million in principal of the floating-rate notes, which bore interest at 7.93% annually and mature March 1, 2012 and $175.0 million of the senior notes.

UBS Investment Bank is the lead underwriter. The other underwriters are Banc of America Securities LLC and Calyon Securities (USA) Inc.

The anticipated gross proceeds and number of shares in the prospective offering were not disclosed.

The high-end flower and fruit company made the announcement in an S-1 filing with the Securities and Exchange Commission.

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