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Globe Telecom 10-year notes talked at 9¾%-10%, pricing Wednesday afternoon
By Paul A. Harris
St. Louis, Mo., March 25 - Price talk of 9¾%-10% was heard Monday on Globe Telecom's upcoming offering of $175 million senior notes due 2012 (Ba3/BB), according to a syndicate source, who added that the deal is expected to price Wednesday morning.
Salomon Smith Barney is the bookrunner. Deutsche Banc Alex. Brown and HSBC are co-managers.
The Rule 144A notes are non-callable for five years
Proceeds will be used to fund capital expenditures
The company provides wireless telecom services in the Philippines.
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