March 1, 2010 (FinancialWire) — Reddy Ice Holdings, Inc.’s (NYSE: FRZ) Reddy Ice Corp. subsidiary has priced its offering of $270 million of 11.25% senior secured notes due 2015. The issue price is 100% of the principal amount of the notes.

The closing of the sale of the notes, which is subject to customary conditions, including the concurrent closing of a new credit facility for Reddy Corp, is scheduled to occur on March 15.

Reddy Corp plans to use the proceeds of the offering to refinance its existing indebtedness and to pay estimated fees and expenses, with the balance retained for general corporate purposes.

The notes will be guaranteed by Reddy Ice Holdings and by Reddy Corp’s future domestic restricted subsidiaries, and the notes and the guarantees will be secured by a first-priority lien on substantially all the tangible and intangible assets of Reddy Corp, the company and any such restricted subsidiaries.

Texas-based Reddy Ice Holdings is a manufacturer and distributor of packaged ice in the United States. The company has around 2,000 year-round employees, and sells its products primarily under the Reddy Ice brand to a range of customers in 33 states and the District of Columbia.

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