OMI $150 million 10-year notes talked at 7 5/8%-7 7/8%, pricing Friday

By Paul A. Harris

St. Louis, Nov. 19 - Price talk is 7 5/8%-7 7/8% on OMI Corp.'s upcoming sale of $150 million 10-year senior notes (B1/B+), according to an informed source.

The deal is expected to price Friday morning, the source added.

Goldman Sachs & Co. is the bookrunner on the Rule 144A/Regulation S (with registration rights) offering.

The notes will be non-callable for five years.

OMI will use proceeds to repay its revolver and for general corporate purposes.

The issuer is a Stamford, Conn.-based owner and operator of crude oil tankers and product carriers.

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