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Southeastern Grocers talks $325 million eight-year notes at 5¾%-6%; pricing Tuesday
By Paul A. Harris
Portland, Ore., Oct. 6 – Southeastern Grocers talked its $325 million offering of eight-year senior secured notes (expected ratings B3/B+) to yield 5¾% to 6%, according to market sources.
Official talk comes tight to early guidance in the low 6% area.
Books close at 2:30 p.m. ET on Tuesday.
BofA Securities Inc., Deutsche Bank Securities Inc. and Truist Securities Inc. are the joint bookrunners.
The notes become callable after three years at par plus 50% of the coupon.
The issuing entities will be SEG Holding, LLC and SEG Finance Corp.
The Jacksonville, Fla., food retailer, which serves the southeastern United States, plans to use the proceeds, together with a draw on its revolver, to repay its term loan.
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