Stone Container price talk 8 3/8%-8½%, pricing Wednesday

By Paul A. Harris

St. Louis, Mo., June 18 - The market heard official price talk of 8 3/8%-8½% on Stone Container Corp.'s planned $400 million of senior notes due 2012 (B2/B), according to a syndicate source. The deal is expected to price Wednesday.

Deutsche Bank Securities Inc. and JP Morgan are joint bookrunners. Banc of America Securities, Morgan Stanley and Salomon Smith Barney are co-leads. BNY, Dresdner Kleinwort Wasserstein, Merrill Lynch & Co., Scotia Capital and SG Cowen are co-managers.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to repay bank debt.

The Chicago-headquartered company is a subsidiary of Smurfit-Stone Container Corp.

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