Gardner Denver $125 million eight-year notes talked in 7¾% area, to price Thursday

By Paul A. Harris

St. Louis, April 27 - Gardner Denver Inc.'s $125 million offering of eight-year senior subordinated notes (B2/B) is talked in the 7¾% area, according to a market source.

Pricing is expected on Thursday.

Bear Stearns & Co. and JP Morgan are joint bookrunners for the Rule 144A/Regulation S offering. Wachovia Securities, Harris Nesbitt, Mitsubishi, Piper Jaffray and Scotia Capital are co-managers.

The notes come with four years of call protection.

Proceeds will be used to help fund the acquisition of Thomas Industries Inc., a Louisville, Ky., compressor company.

The notes will be guaranteed by certain of Gardner Denver's domestic subsidiaries.

Gardner Denver is a Quincy, Ill., compressor company.

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