Orbital Sciences price talk 8 3/4-9% on $135 million eight-year notes pricing Wednesday

By Paul A. Harris

St. Louis, July 1 - Price talk of 8 3/4-9% emerged Tuesday on Orbital Sciences Corp. $135 million of eight-year senior notes (B+), according to an informed source who added that the deal is expected to price on Wednesday.

Banc of America Securities is the bookrunner on the Rule 144A deal. Jefferies & Co. is the co-manager.

Proceeds will be used to refinance $135 million of outstanding 12% second priority secured notes due 2006.

The company is a Dulles, Va. developer and manufacturer small space and missile systems for commercial, civil government and military customers.

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