Gundle $150 million eight-year notes price talk 10½%-10¾%, to price Thursday

By Paul A. Harris

St. Louis, May 12 - Price talk of 10½% to 10¾% emerged Wednesday on Gundle/SLT Environmental Inc.'s proposed $150 million offering of eight-year senior notes (Caa1/B-), according to an informed source.

The deal is expected to price Thursday afternoon.

UBS Investment Bank is the bookrunner for the Rule 144A offering. Jefferies & Co. is the co-manager.

The notes will come with four years of call protection.

Proceeds will be used to back the acquisition of Gundle/SLT Environmental Inc. by Code Hennessy & Simmons LLC.

The prospective issuer is a Houston-based manufacturer and marketer of geosynthetic lining solutions, products and services.

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