Ralcorp Holdings yesterday (22 December) announced the private placement of US$175m in one seven-year and one ten-year fixed rate senior note. The ten-year senior note, due to mature in 2015 consists of $100m at 5.57%, the seven-year note, due in 2012, consists of $75m at 5.43%.

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SPP Capital Partners, LLC and US Bank N. led the transaction as advisors, placing the notes with insurance and investment companies.


Ralcorp then amended all of its private placement notes to allow the company’s total indebtedness to increase to four times EBITDA for up to one year.


Commenting on the announcement, Ralcorp’s corporate vice president and treasurer, Scott Monette, said: “The fixed rate private placement issuance and the amendment of all of Ralcorp’s private placement notes provide a cost- efficient vehicle for extending the maturity of our debt.”

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