USA: Fleming offers US$260m ten-year senior subordinated notes
Fleming Companies intends to offer for sale US$260m of senior subordinated notes due 2012 in a private placement. The net proceeds of the offering will be used to redeem Fleming's currently outstanding US$250m 10.5% senior subordinated notes due 2004. The new ten-year notes, which will be guaranteed by Fleming's current and future wholly-owned subsidiaries, could be priced for sale later today [Tuesday]. Fleming will issue a formal Notice of Redemption for the 2004 notes shortly.
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