MemberWorks $150 million 10-year notes price talk 9-9¼%, to price Wednesday

By Paul A. Harris

St. Louis, April 5 - Price talk is 9% to 9¼% on MemberWorks Inc.'s proposed $150 million offering of 10-year senior notes (B2/B), according to a syndicate source, who added that the deal is expected to price on Wednesday.

Lehman Brothers and UBS Investment Bank are joint bookrunners on the Rule 144A/Regulation S offering. ABN Amro is co-manager.

The notes will be callable with a make-whole call during the first five years and then will be callable at a premium.

Proceeds will be used to help fund the acquisition of Lavalife Inc. and for general corporate purposes, including working capital, future acquisitions and purchases of common stock.

The company is a Stamford, Conn., provider of consumer service and discount programs.

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