New Issue: EaglePicher upsizes 10-year notes to $250 million, yield 9 7/8%

By Paul A. Harris

St. Louis, July 31 - EaglePicher Inc. priced an upsizing offering of $250 million of 9¾% senior notes due Sept. 1, 2013 (B3/B-) Thursday at 99.20 to yield 9 7/8%, according to syndicate sources.

The deal was increased from $220 million. Price talk was 9¾%-10%.

UBS Investment Bank ran the books on the Rule 144A deal. The co-managers were ABN Amro, Banc One Capital Markets, Harris Nesbitt and PNC.

Proceeds will be used to fund the company's tender for its 9 3/8% senior subordinated notes due 2008.

EaglePicher is a Phoenix, Ariz.-based manufacturer.

Issuer:	EaglePicher Inc.
Amount:	$250 million (increased from $220 million)
Maturity:	Sept. 1, 2013
Security description:	Senior notes
Bookrunner:	UBS Investment Bank
Co-managers:	ABN Amro, Banc One Capital Markets, Harris Nesbitt, PNC
Coupon:	9¾%
Price:	99.20
Yield:	9 7/8%
Spread:	540 basis points
Call features:	Callable on Sept. 1, 2008 at 104.875, then 103.25, 101.625, declining to par on Sept. 1, 2011 and thereafter
Equity clawback:	Until Sept. 1, 2006 for 35% at 10
Settlement date:	Aug. 7, 2003
Ratings:	Moody's: B3
	Standard & Poor's: B-
Rule 144A Cusip:	270039AA8
Price talk:	9¾%-10%

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