Da-Lite Screen talks $105 million five-year senior notes to yield 13¼% with about 3 points OID

By Paul A. Harris

St. Louis, March 18 - Da-Lite Screen Co., Inc. talked a $105 million offering of five-year senior unsecured notes for a yield in the 13¼% area with about 3 points of original issue discount on Thursday, according to an informed source.

Books close at 10 a.m. ET on Friday, and the deal is expected to price thereafter.

Morgan Stanley & Co. Inc. has the books for the Rule 144A and Regulation S with registration rights offering.

The notes come with three years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to retire the company's 9½% senior notes due 2011.

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