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Wise Alloys $150 million seven-years notes talk at 11¼%-11½%, pricing Tuesday
By Paul A. Harris
St. Louis, Mo., May 3 - Price talk of 11¼%-11½% emerged Friday on Wise Alloys, LLC/Finance Corp.'s offering of $150 million seven-year senior secured notes (B3/B+), according to a syndicate source who added that the deal is expected to price Tuesday afternoon.
Merrill Lynch & Co. is the bookrunner.
The Rule 144A notes are non-callable for four years.
Proceeds will be used to repay bank debt and for general corporate purposes.
Wise Alloys is an aluminum can producer based in Muscle Shoals, Ala.
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