Broder Brothers raises talk to 11¼% on $175 million seven-year notes

By Paul A. Harris

St. Louis, Sept. 16 - Price talk widened to 11¼% from 10¾%-11% on Broder Brothers' $175 million of seven-year senior notes (B3/B-), according to market sources who added that the deal has also been heard to have undergone covenant changes.

Pricing is expected on Wednesday morning.

UBS Investment Bank is the bookrunner on the Rule 144A deal. Banc One Capital Markets is co-manager.

The notes will be non-callable for four years.

Proceeds will be used to help fund the acquisition of Alpha, sponsored by Bain Capital, and to repay Broder and Alpha debt.

The Plymouth, Mich.-based company distributes imprintable sportswear and accessories.

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