New Issue: Georgia Gulf sells $100 million 10-year notes to yield 7 1/8%

By Paul A. Harris

St. Louis, Nov. 19 - Georgia Gulf Corp. priced a quick-to-market $100 million of senior notes due Dec. 15, 2013 (B1/BB-) at par Wednesday to yield 7 1/8%, according to a syndicate source.

Price talk was for a yield in the 7¼% area.

JP Morgan and Banc of America Securities were bookrunners on the Rule 144A deal. The co-managers were Merrill Lynch & Co. and Wachovia Securities.

Georgia Gulf will use proceeds to fund a tender for its $200 million of 10 3/8% senior subordinated notes due 2007.

The issuer is an Atlanta-based chemical manufacturer.

Issuer:	Georgia Gulf Corp.
Amount:	$100 million
Maturity:	Dec. 15, 2013
Security description:	Senior notes
Bookrunners:	JP Morgan, Banc of America Securities
Co-managers:	Merrill Lynch & Co., Wachovia Securities
Coupon:	7 1/8%
Price:	Par
Yield:	7 1/8%
Spread:	289 basis points
Call features:	Callable after Dec. 15, 2008 at 103.563, 102.375, 101.188, par on Dec. 15, 2011 and thereafter
Equity clawback:	Until Dec. 15, 2006 for 35% at 107.125
Settlement date:	Dec. 3 (T+9)
Ratings:	Moody's: B1
	Standard & Poor's: BB-

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