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Hawk $100 million 10-year notes talked to yield 8¾% to 8 7/8%
By Paul A. Harris
St. Louis, Oct. 22 - Hawk Corp.'s $100 million offering of 10-year guaranteed senior notes (B2/B) is talked to yield 8¾% to 8 7/8%, according to an informed source.
The deal is expected to price on Tuesday.
The notes are non-callable for five years.
Jefferies & Co. is running the books for the Rule 144A offering.
Proceeds will be used to fund the tender offer for $66.3 million of the company's 12% senior notes due 2006 and to repay bank debt.
Hawk is a Cleveland-based friction products supplier.
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