KCS Energy $150 million eight-year notes talked at 7¼%-7½%, pricing Thursday

By Paul A. Harris

St. Louis, March 24 - Price talk is 7¼%-7½% on KCS Energy Inc.'s offering of $150 million eight-year senior notes (B3/B-), according to a syndicate source.

The deal is expected to price mid-day on Friday.

Credit Suisse First Boston is the bookrunner on the Rule 144A offering. Merrill Lynch & Co., Jefferies & Co. Harris Nesbitt, Banc One Capital Markets and BNP Paribas are co-managers.

The notes will come with four years of call protection

Proceeds will be used to repay bank debt and redeem existing bonds.

KCS Energy is a Houston-based independent oil and gas exploration and production company.

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