Hines Nurseries $175 million eight-year notes talked at 10½% area, pricing Monday

By Paul A. Harris

St. Louis, Sept. 18 - Hines Nurseries, Inc. planned $175 million of eight-year senior notes (B3/B) are talked at a yield in the 10½% area, according to an informed source.

The deal is expected to price on Monday.

Credit Suisse First Boston is bookrunner on the Rule 144A/Regulation S offering.

The notes will be non-callable for four years.

The Irvine, Calif. operator of commercial nurseries will use proceeds will be used to repay its credit facility and redeem its 12¾% senior subordinated notes due 2005

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