Moog $120 million 10-year notes talked to yield 6¼%-6 3/8%, to price Wednesday afternoon

By Paul A. Harris

St. Louis, Jan. 4 - Price talk on Moog Inc.'s $120 million offering of 10-year senior subordinated notes (Ba3/B+) emerged Tuesday at 6¼% to 6 3/8%, according to an informed source.

The notes are expected to price on Wednesday afternoon.

Banc of America Securities LLC has the books for the registered offering.

The notes will be callable with a make-whole call at Treasuries plus 50 basis points for the first five years and then will become callable at a premium.

Proceeds will be used to repay bank debt.

The prospective issuer is an East Aurora, N.Y., designer, manufacturer, and integrator of precision control components and systems used in military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, and medical equipment.

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