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Escada €200 million seven-year notes talked to yield 7½% area, to price Friday
By Paul A. Harris
St. Louis, March 17 - Escada AG's €200 million offering of seven-year senior notes (B2/BB-) is being talked for a yield in the 7½% area, according to a market source.
Pricing is expected on Friday.
The notes will be non-callable for four years.
Deutsche Bank Securities and HVB are the underwriters for the Rule 144A/Regulation S with no registration rights offering.
Proceeds will be used to refinance bank debt and to improve the company's capital structure.
Escada, a designer and marketer of upscale women's apparel, is based in Aschheim/München, Germany.
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