Horizon PCS $125 million 8-year notes seen pricing Friday, price talk 11½%

By Paul Deckelman

New York, July 7 - Horizon PCS Escrow Co. (B3/CCC) is expected to price its planned $125 million offering of eight-year senior notes on Friday, high yield syndicate sources said. Pre-deal market price talk heard on the issue is in the 11½% area.

Horizon, a Chillicothe, Ohio-based Sprint PCS affiliate, is bringing the deal to market via joint book-running managers Credit Suisse First Boston and Lehman Bros.

The notes, which will be non-callable for the first four years after issue, will come to market in a Rule 144A private placement.

The company will use the proceeds from the deal to repay bank debt as part of its reorganization plan.

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