National Waterworks to bring $200 million 10-year notes during fourth quarter

By Paul A. Harris

St. Louis, Mo., Oct. 21 - National Waterworks Inc. is eyeing the fourth quarter of 2002 to bring $200 million of senior subordinated notes due 2012 (B3/B) via joint bookrunners Goldman Sachs & Co. and JP Morgan, according to a syndicate source. The deal is fourth quarter business, the source added.

UBS Warburg is a co-manager, according to an informed source.

The deal is coming in conjunction with a $325 million credit facility.

Proceeds from the financings will be used to purchase the assets of U.S. Filter Distribution Group Inc., a subsidiary of Vivendi Universal SA.

National Waterworks, headquartered in Waco, Tex., is a waterworks transmission products distributor.

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