Westport Resources $200 mln 10-year notes talked at 8 ¼%-8 ½%

By Paul A. Harris

St. Louis, Mo., Oct. 30 - Price talk on Westport Resources Corp's offering of at least $200 million of senior subordinated notes due 2011 (Ba3/BB-) is for a yield of 8¼%-8½%, a syndicate source told Prospect News Tuesday.

The deal, via bookrunner Credit Suisse First Boston with co-managers J.P. Morgan, Lehman Brothers, Fleet Securities, Fortis, T.D. Securities and US Bancorp Piper Jaffray, is set to price Wednesday, the source added.

The Denver, Colo. based exploration and production company will use proceeds to repay bank debt.

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