By Paul A. Harris
St. Louis, Mo., June 13 - The Big Food Group, plc priced £150 million of senior notes due June 30, 2012 (Ba3/BB-) at par Thursday to yield 9¾%, according to a syndicate source.
Price talk was 9¾%-10%.
Barclays Capital and UBS Warburg were joint bookrunners.
Proceeds from the Rule 144A/Reg S deal will be used to repay bank debt.
The issuer is an integrated food company headquartered in Deeside, U.K.
Issuer: The Big Food Group, PLC
Amount: £150 million
Maturity: June 30, 2012
Type: Senior notes
Bookrunners: Barclays Capital, UBS Warburg (joint)
Coupon: 9¾%
Price: Par
Yield: 9¾%
Price talk: 9¾%-10%
Call features: Callable on June 30, 2007 at 104.875, 103.25, 101.625, par on June 30, 2010 and thereafter
Equity clawback: Until June 30, 2005 for 35% at 109.75
Settlement date: June 18, 2002
Ratings: Moody's: Ba3
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