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SPX $200 million eight-year bullets talked at 6 3/8%-6½%, drive-by pricing Thursday
By Paul A. Harris
St. Louis, June 4 - SPX Corp. expects to price $200 million of senior notes due 2011 (BB+) Thursday after marketed by means of an 11 a.m. ET Thursday conference call, according to a syndicate source.
Price talk is for a yield of 6 3/8%-6½%.
JP Morgan is the bookrunner for the off-the-shelf deal. Goldman Sachs & Co., Lazard, Lehman Brothers and UBS Warburg are co-managers.
The notes will be non-callable.
The Charlotte, N.C.-based provider of industrial and technical products and systems will use proceeds to repay debt and for general corporate purposes.
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