Kronos 270 million euros seven-year notes talked at 8¾%-9%, pricing Wednesday

By Paul A. Harris

St. Louis, Mo., June 17 - Price talk of 8¾%-9% emerged Monday on Kronos International, Inc.'s offering of €270 million senior secured notes due 2009 (BB-/BB), according to a market source. The deal is expected to price Wednesday.

Deutsche Bank Securities Inc. is the bookrunner.

Proceeds from the Rule 144A deal will be used to redeem NL Industries' $169 million of 11¾% senior secured notes due 2003 and to repay other debt.

The company conducts parent NL Industries' European titanium dioxide pigments operations, and is headquartered in Germany.

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