Dura $250 million 10-year notes talked in 8 5/8% area

By Paul A. Harris

St. Louis, Mo., April 3 - Dura Operating Corp.'s offering of $250 million 10-year senior notes is talked at a yield in the 8 5/8% area, according to price talk that surfaced late in Wednesday's session, according to a syndicate source.

The deal is expected to price Thursday.

Banc of America Securities and JP Morgan are joint bookrunners for the Rule 144A deal. Co-managers are Salomon Smith Barney, Comerica Securities, US Bancorp and Scotia Capital.

The notes are non-callable for five years.

The Minneapolis-based designer and manufacturer of driver control systems will use the proceeds to refinance existing debt.

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