New Issue: Ethyl Corp. $150 million seven-year notes yield 8 7/8%

By Paul A. Harris

St. Louis, April 15 - Ethyl Corp. sold $150 million of senior notes due May 1, 2010 (B2/B) at par Tuesday to yield 8 7/8%, according to a syndicate source.

Price talk was for a yield of 9%-9¼%.

Credit Suisse First Boston was bookrunner. UBS Warburg and SunTrust Bank were co-managers.

Proceeds from the Rule 144A notes will be used to repay debt.

The issuer is a Richmond, Va. fuel and lubricant additives company.

Issuer:	Ethyl Corp.
Amount:	$150 million
Maturity:	May 1, 2010
Security description:	Senior notes
Bookrunner:	Credit Suisse First Boston
Co-managers:	UBS Warburg, SunTrust Bank
Coupon:	8 7/8%
Price:	Par
Yield:	8 7/8%
Spread:	543 basis points over 6½% Treasury due February 2010
Price talk:	9%-9¼%
Call features:	Callable on May 1, 2007 at 104.438, then at 102.219, declining to par on May 1, 2009 and thereafter
Equity clawback:	Until May 1, 2006 at 108.875 for up to 35%
Settlement:	April 30
Ratings:	Moody's: B2
	Standard & Poor's: B
Rule 144A Cusip:	297659AK0

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