American Railcar $250 million seven-year notes talked at 7½%-7¾%, to price Friday

By Paul A. Harris

St. Louis, Feb. 21 - American Railcar Industries, Inc. talked its $250 million offering of seven-year senior unsecured notes (B1/BB-) at 7½% to 7¾% on Wednesday, according to an informed source.

Books close at 4 p.m. ET on Thursday. Pricing is set for Friday morning.

UBS Investment Bank is the left bookrunner for the notes, which are being offered via Rule 144A with registration rights and via Regulation S. Bear Stearns & Co. is the joint bookrunner.

The notes come with four years of call protection.

Proceeds will be used for general corporate purposes, including capital expenditures, strategic transactions and working capital.

The prospective issuer is a St. Charles, Mo., manufacturer of railroad cars.

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