MDC Partners talks $500 million seven-year notes to yield 6¾%-7%

By Paul A. Harris

Portland, Ore., March 14 - Toronto-based MDC Partners Inc. talked its $500 million offering of seven-year senior notes (B3/B-) to yield 6¾% to 7%, a market source said on Thursday.

The deal is set to price midday on Friday.

J.P. Morgan Securities LLC and Goldman Sachs & Co. are the joint bookrunners.

Wells Fargo Securities LLC, BMO Securities and Deutsche Bank Securities Inc. are the co-managers.

The Rule 144A and Regulation S for life notes become callable in three years at par plus 50% of the coupon.

The marketing communications services company plans to use the proceeds to redeem its 11% notes due 2015.

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