Legrand $400 million 10-year notes talked at 10% area, €200 million at 50 basis points higher

By Paul A. Harris

St. Louis, Feb. 5 - Legrand, SA's upcoming offering of $400 million 10-year senior notes (B1) is talked at a yield in the 10% area while its €200 million 10-year senior notes (B1) are talked 50 basis points behind the dollar-denominated piece.

The deal is expected to price on Friday.

Credit Suisse First Boston and Lehman Brothers are joint bookrunners. RBS is co-manager.

Proceeds will be used to partially fund the LBO of the company by Kohlberg Kravis Roberts & Co. LP and Wendel Investissement from Schneider Electric SA.

The issuer is a Limoges, France electrical distribution and industrial control and automation services provider.

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