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Stena $200 million 10-year notes talked at 9¾%-9 7/8%, pricing Friday morning
By Paul A. Harris
St. Louis, Nov. 20 - Price talk of 9 ¾%-9 7/8% emerged Wednesday on Stena AB's planned $200 million of 10-year senior notes (Ba3/BB-), according to a syndicate source.
The deal is expected to price Friday morning, the source added.
JP Morgan is the bookrunner. ABN Amro, Deutsche Bank Securities Inc. and Salomon Smith Barney are the co-managers.
The Rule 144A notes are non-callable for five years.
Proceeds will be used to repay debt.
The issuer, which is headquartered in Gothenburg, Sweden, operates freight and passenger shipping services, drilling rigs and crude oil tankers, and manages investments in real estate.
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