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Land O'Lakes to price $300 mln 10-year notes Nov. 8 via JP Morgan
By Paul A. Harris
St. Louis, Mo., Oct. 30 - Land O'Lakes is to sell $300 million of senior notes due 2011 (Ba3) with pricing anticipated for Nov. 8, market sources told Prospect News Tuesday. The bookrunner was identified as J.P. Morgan.
The Rule 144A notes are non-callable for five years, a source said.
Proceeds will be used to pay debt incurred in the company's acquisition of Purina Mills, the source said, adding that the roadshow commenced Tuesday and will conclude on Nov. 7.
Land O'Lakes is headquartered in Arden Hills, Minn.
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