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Oppenheimer talks $200 million five-year notes to yield 6¾%-7%; pricing Friday
By Paul A. Harris
Portland, Ore., June 15 – Oppenheimer Holdings Inc. talked its $200 million offering of five-year senior secured notes to yield 6¾% to 7%, according to market sources.
Official talk comes wide of earlier guidance in the 6½% area, a trader said.
The deal is expected to price on Friday.
Oppenheimer is running the books for its own deal, sources say.
The New York-based financial institution plans to use the proceeds to redeem its 8¾% senior secured notes due April 15, 2018 in full, with the remaining proceeds to be used for general corporate purposes, which may include acquisitions.
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