Stena AB $200 million notes talked 7% to 7¼%

By Paul A. Harris

St. Louis, Nov. 17 - Stena AB's $200 million of 12-year senior notes (expected ratings Ba3/BB-) were talked at 7% to 7¼%, according to an informed source.

Pricing is expected to take place Thursday afternoon.

JP Morgan and Citigroup are the bookrunners for the Rule 144A with registration rights offering.

The notes are non-callable for five years.

Proceeds will be used to repay bank debt.

Stena is a Gothenburg, Sweden-based company that has operations in shipping, offshore oil and gas exploration and real estate.

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