Standard Aero $200 million 10-year notes talked to yield 8½% area, to price Tuesday

By Paul A. Harris

St. Louis, Aug. 16 - Standard Aero Holdings' $200 million offering of 10-year senior notes (Caa1/B-) has price talk in the area of 8½%, market sources said Monday.

The deal is expected to price on Tuesday.

JP Morgan and Lehman Brothers are the bookrunners for the Rule 144A offering.

The notes will come with five years of call protection.

Proceeds will be used to help fund The Carlyle Group's acquisition of the Standard Aero division from Dunlop Standard Aerospace Group for $670 million.

The company is a Winnipeg, Manitoba-based provider of maintenance, repair and overhaul services for aircraft engines and industrial gas turbines.

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