Unifi talks $225 million eight-year first-lien notes at 11%-11¼%

By Paul A. Harris

St. Louis, May 16 - Unifi Inc. talked its $225 million offering of eight-year first-lien senior secured notes (Caa1/CCC+) at 11% to 11¼% on Tuesday, according to a market source.

The books are scheduled to close at 2 p.m. ET Wednesday, with the issue expected to price thereafter.

Lehman Brothers is the bookrunner for the Rule 144A with registration rights offering. Banc of America Securities LLC is the joint lead manager.

The notes come with four years of call protection.

Proceeds will be used to fund the tender for the company's 6½% senior notes due 2008.

Unifi is a Greensboro, N.C.-based diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials.

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