Sanmina-SCI $450 million notes talked at 10¼%-10½%, pricing Wednesday

By Paul A. Harris

St. Louis, Mo., Dec. 16 - The price talk is 10¼%-10½% on Sanmina-SCI Corp.'s upcoming offering of $450 million senior secured notes due 2009 (Ba2/BB-), according to a syndicate source.

The deal figures to price late Wednesday, the source added.

Goldman Sachs & Co. is the bookrunner. The co-managers are JP Morgan, Salomon Smith Barney, Banc of America Securities, Scotia Capital and Wachovia Securities, Inc.

Proceeds from the Rule 144A notes will be used to repay debt under the company's existing credit facility, to repay the outstanding balance on its receivables securitization facility, to refinance or restructure other debt, to fund further expansion of its business and for working capital.

The issuer is an electronics contract manufacturer.

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