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Land O'Lakes $150 million seven-year notes talked at 9% area; pricing Friday afternoon
By Paul A. Harris
St. Louis, Dec. 11 - Land O'Lakes Inc.'s proposed $150 million of seven-year senior secured second lien notes (B2) are talked in the 9% area, market sources said Thursday.
The deal is expected to price Friday afternoon.
JP Morgan is the bookrunner on the Rule 144A offering.
The notes will be non-callable for four years.
The Arden Hills, Minn.-based farmer-owned food and agricultural cooperative plans to use proceeds to repay debt.
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