GXS talks $750 million 5.5-year secured notes to yield 10¼% area

By Paul A. Harris

St. Louis, Dec. 15 - GXS Worldwide, Inc. set price talk for its $750 million offering of 5.5-year senior secured notes (B2/B) at the 10¼% area on Tuesday, according to an informed source.

Order books close late Wednesday. The deal is expected to price early Thursday.

Barclays Capital Inc., J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and Wells Fargo Securities are joint bookrunners for the Rule 144A offering.

The notes come with 2.5 years of call protection.

Proceeds will be used to repay bank debt, as well as for general corporate purposes. Proceeds will also be used to fund the cash portion of the merger with Inovis and to refinance Inovis debt.

GXS is a Gaithersburg, Md.-based e-commerce and integration services company.

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