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New Issue-Jo-Ann Stores sells $450 mln in 8-yr notes
March 3, 2011 / 7:58 PM / 7 years ago

New Issue-Jo-Ann Stores sells $450 mln in 8-yr notes

  March 3 (Reuters) - Jo-Ann Stores Inc JAS.N on Thursday
sold $450 million of senior notes in the 144a private placement
market, said a market source.
  JP Morgan, Bank of America Merrill Lynch and Barclays were
the joint bookrunning managers for the sale.
BORROWER: JO-ANN STORES INC
AMT $450 MLN      COUPON 8.125 PCT    MATURITY 3/15/2019 
TYPE SR NTS       ISS PRICE 100.00    FIRST PAY 9/15/2011
MOODY'S Caa1      YIELD 8.125 PCT     SETTLEMENT 3/18/2011
S&P CCC-PLUS      SPREAD 496 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    NON-CALLABLE 3 YRS*
*MAKE-WHOLE CALL 50 BPS

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