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Grainger talks £200 million seven-year notes to yield in 5¼% area
By Paul A. Harris
Portland, Ore., Nov. 20 - England-based Grainger plc talked its £200 million offering of non-callable seven-year guaranteed secured notes (/BB+/BB+) to yield in the 5¼% area, according to an informed source.
Books close at 5 a.m. ET on Thursday.
The deal size will not grow.
Barclays, HSBC, Lloyds TSB and Royal Bank of Scotland are the active bookrunners.
Royal Bank of Scotland will bill and deliver.
Proceeds from the Regulation S only deal will be used to repay debt.
Grainger is a Newcastle upon Tyne, England-based residential property management company.
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