Published on 12/4/2001 in the Prospect News High Yield Daily.
New Issue: Forest Oil $160 million 10-year notes yield 8%
By Paul A. Harris
St. Louis, Mo., Dec. 4 - Forest Oil Corp. priced Friday $160 million of senior notes due Dec. 15, 2011 (Ba3/BB) at par for a yield of 8%.
J.P. Morgan was the bookrunner. The syndicate also included ABN Amro, Salomon Smith Barney and TD Securities. The deal was upsized from its originally announced amount of $150 million.
| Issuer: | Forest Oil Corp.
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| Amount: | $160 million (upsized from $150 million)
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| Maturity: | Dec. 15, 2011
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| Type: | Senior notes
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| Bookrunner: | J.P. Morgan
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| Coupon: | 8%
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| Price: | Par
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| Yield | 8%
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| Spread: | 325 basis points
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| Call features: | Make-whole call (T+50 bps)
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| Equity clawback: | None
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| Settlement date: | Dec. 7
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| Ratings: | Moody's Ba3
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| Standard & Poor's BB
|
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| End
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