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Del Laboratories $150 million seven-year notes talked 8¼% to 8½%, to price Wednesday
By Paul A. Harris
St. Louis, Jan. 18 - Del Laboratories Inc.'s $150 million offering of seven-year senior subordinated notes (B3/CCC+) emerged with price talk of 8¼% to 8½%, according to market sources.
The notes, which mature in 2012 and are non-callable for three years, are expected to price on Wednesday.
Bear Stearns & Co. and JP Morgan are joint bookrunners. Deutsche Bank Securities is the co-manager.
Proceeds will be used to help fund the acquisition of Del Laboratories by Kelso & Co. and Church & Dwight.
Del Laboratories is a Uniondale, N.Y.-based manufacturer and marketer of over-the-counter pharmaceuticals.
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