Grifols talks $1.1 billion seven-year notes with 8¼%-8½% yield

By Paul A. Harris

Portland, Ore., Jan. 11 - Spain's Grifols SA talked its $1.1 billion offering of seven-year senior notes (B3/B) with an 8¼% to 8½% yield on Tuesday, according to and informed source.

The deal is expected to price Wednesday, pending weather on the East Coast of the United States.

Deutsche Bank, Nomura, BBVA, BNP Paribas, HSBC and Morgan Stanley are the underwriters.

The notes come with three years of call protection.

Proceeds will be used to help fund the company's acquisition of Talecris Biotherapeutics Holdings Corp.

Grifols is a Barcelona, Spain-based health care company and producer of plasma protein therapies.

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