Building Materials' $150 million 10-year notes talked at 7¾%-8%, pricing Wednesday

By Paul A. Harris

St. Louis, July 19 - Building Materials Corp. of America's $150 million of 10-year secured notes (B2/B+) are talked at 7¾%-8%, according to a syndicate source.

The deal is expected to price on Wednesday.

Citigroup and Deutsche Bank Securities are joint bookrunners for the Rule 144A/Regulation S offering. JP Morgan is the co-manager.

The notes will come with five years of call protection.

Proceeds will be used to call the company's 8 5/8% senior notes due 2006, to repay bank debt and for general corporate purposes.

The prospective issuer is a Wayne, N.J. manufacturer of asphalt roofing products and accessories.

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