Issuer: | Cintas Corporation No. 2 | |
Guarantors: | Cintas Corporation and the subsidiary guarantors | |
Anticipated Ratings: | A2 (Moodys); A (S&P) | |
Issue of Securities: | 6.125% Senior Notes due 2017 | |
Principal Amount: | $250,000,000 | |
Coupon: | 6.125% per annum | |
Interest Payment Dates: | Semi-annually on June 1 and December 1, commencing June 1, 2008 | |
Maturity Date: | December 1, 2017 | |
Treasury Benchmark: | 4.25% due November 15, 2017 | |
US Treasury Yield: | 3.889% | |
Spread to Treasury: | 225 basis points | |
Re-offer Yield: | 6.139% | |
Initial Price to Public: | Per Senior Note: 99.898%; Total: $249,745,000 | |
Underwriters Discount: | Per Senior Note: 0.650%; Total: $1,625,000 | |
Proceeds, before expenses, to us: | Per Senior Note: 99.248%; Total: $248,120,000 | |
Optional Redemption: | Make-whole Spread: 35 basis points | |
Offer to Repurchase: | Upon the occurrence of both (i) a change of control of Cintas and (ii) a downgrade of the notes below an investment grade rating by each of Moodys Investors Service, Inc. and Standard & Poors Ratings Services within a specified period, Cintas will be required to make and offer to purchase the notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. | |
Minimum Denomination: | $1,000 and integral multiples of $1,000 | |
Expected Settlement Date: | December 7, 2007 (T+3) | |
CUSIP Number: | 17252MAH3 | |
ISIN Number: | US17252MAH34 | |
Joint Book-Running Managers: | KeyBanc Capital Markets Inc. ($106,250,000) J.P. Morgan Securities Inc. ($106,250,000) |
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Co-Managers: | Lazard Capital Markets LLC ($12,500,000) Piper Jaffray & Co. ($12,500,000) Wells Fargo Securities, LLC ($12,500,000) |