SPX $250 million 10-year notes talked at 7½%-7¾%, pricing Friday morning

By Paul A. Harris

St. Louis, Dec. 11 - Price talk is 7½%-7¾% on SPX Corp.'s offering of $250 million of 10-year senior notes (Ba3/BB-), according to a syndicate source.

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

The syndicate is comprised of JP Morgan, Banc of America Securities and Wachovia Securities, Inc.

The off-the-shelf notes are non-callable for five years.

Proceeds will be used to refinance SPX's term loan A, reduce term B and C loans and for general corporate purposes.

The issuer is based in Charlotte, N.C.

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