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K&F Industries $250 million notes talked at 9¾% area, pricing Friday afternoon
By Paul A. Harris
St. Louis, Dec. 12 - K&F Industries, Inc.'s $250 million of eight-year subordinated notes (B3/B) are talked at a yield in the 9¾% area, according to a syndicate source.
The deal is expected to price Friday afternoon, the source added.
Lehman Brothers is running the books on the Rule 144A deal.
The notes are non-callable for four years.
Proceeds will be used to repay the company's existing credit facility and pay a dividend on outstanding capital stock.
The issuer is a New York City manufacturer of aircraft wheels, brakes, fuel tanks and iceguards, inflatable oil booms and other coated fabric products.
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