Bon-Ton Stores talks $525 million eight-year notes at 10% area

By Paul A. Harris

St. Louis, March 1 - Bon-Ton Stores Inc. talked its $525 million offering of eight-year senior notes at the 10% area on Wednesday, according to an informed source.

The offering is expected to price on Thursday afternoon.

Banc of America Securities LLC and Citigroup are joint bookrunners for the notes, which are being offered via Rule 144A with registration rights.

The notes come with four years of call protection.

Proceeds will be used to help fund acquisition of Saks Inc.'s Northern Department Store Group.

Bon-Ton Stores is a York, Pa., regional department store chain.

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