Malaysia's Titan Petrochemicals sets price guidance at 8%

By Reshmi Basu

New York, March 24 - Titan Petrochemicals & Polymers Bhd has set price guidance for its upcoming sale of $300 million bonds due 2011 (Ba3/BB-) at a yield in the 8% area, an informed source said.

The deal is expected to price Thursday.

Goldman Sachs & Co. and JP Morgan are running the books on the Rule 144A/Regulation S (with no registration rights) issue for the petrochemical company.

The notes are non-callable for four years.

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