New World sets talk for €300 million eight-year notes at 7½%-7¾%

By Paul A. Harris

St. Louis, May 10 - New World Resources BV has set price talk for its €300 million offering of eight-year senior notes at 7½% to 7¾%, according to an informed source, who added that the deal will price on Friday.

Morgan Stanley, Barclays Capital and Citigroup are bookrunners for the Rule 144A and Regulation S offering of notes.

The notes come with four years of call protection.

Proceeds will be used to repay bank debt and to fund capital expenditures.

The issuer is a Netherlands-based holding company whose activities include coal mining and coke production in the Czech Republic.

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