Gamestop talks $950 million: six-year floater at Libor plus 325-350 bps, seven-year fixed at 7½%-7¾%

By Paul A. Harris

St. Louis, Sept. 19 - Gamestop Corp. issued price talk Monday on its $950 million two-part offering of senior guaranteed notes (Ba3/B+), according to a market source.

The Grapevine, Texas, electronic game company talked its six-year floating-rate notes, which are non-callable for two years, at Libor plus 325 to 350 basis points.

Meanwhile Gamestop talked its seven-year fixed-rate notes, which are non-callable for four years, at 7½% to 7¾%.

Tranche sizes remain to be determined. The deal is expected to price during the middle of the present week.

Citigroup, Banc of America Securities LLC and Merrill Lynch & Co. are joint bookrunners for the Rule 144A transaction.

Proceeds will be used to fund the merger with EB Games, a Chester, Pa., marketer of video game hardware and software.

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