Gerresheimer Glas 150 million euros notes talked at 10½%-10¾%, pricing Friday

By Paul A. Harris

St. Louis, Mo., July 24 - Price talk of 10½%-10¾% emerged Wednesday on Glass Holdings/GMBH & Co. KG (Gerresheimer Glas AG)'s upcoming offering of €150 million of nine-year senior subordinated notes (B3/B) according to a syndicate source who added that the deal will price on Friday.

JP Morgan and Goldman Sachs are joint bookrunners. UBS Warburg is joint lead.

The notes are coming as a Rule 144A/Reg S deal with no registration rights, and are non-callable for four years.

Proceeds will be used to repay bank debt.

The issuer is a Dusseldorf, Germany-based packaging supplier to the pharmaceutical industry.

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