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Nectar Merger $150 million 10-year notes price talk 7¾%-8%, to price Friday
By Paul A. Harris
St. Louis, Jan 29 - Price talk of 7¾% to 8% emerged Thursday on Nectar Merger Corp.'s proposed $150 million offering of 10-year notes (B3/B-), a syndicate source said.
The deal is expected to price Friday afternoon.
Credit Suisse First Boston and UBS Investment Bank are bookrunners on the Rule 144A offering. Wells Fargo Capital is co-manager.
The notes will come with five years of call protection.
Proceeds will be used to help fund the acquisition of FTD Inc. by Leonard Green & Partners LP. The proceeds will be held in escrow pending the acquisition.
The issuer is a floral services and products company with headquarters in Downers Grove, Ill.
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