Metallurg talks $100 million five-year notes 10½%-10¾% at 98.00

By Paul A. Harris

St. Louis, Sept. 14 - Metallurg Holdings Inc. talked its $100 million offering of non-rated five-year class A secured notes at 10½% to 10¾% at a discounted dollar price of 98.00, according to an informed source.

The class A notes are part of an overall $160 million two-tranche offering, according to the source, who added that $60 million of class B notes will be sold in a true private placement, with no other details available.

Pricing is expected on Friday.

Jefferies & Co. has the books for the Rule 144A transaction.

Proceeds will be used to refinance the company's existing 11% notes due 2008.

Metallurg is a New York City-based specialty metals manufacturer and distributor.

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