Barry Callebaut talks $600 million 10-year notes to yield 5½%-5¾%

By Paul A. Harris

Portland, Ore., June 12 - Zurich-based chocolate-maker Barry Callebaut Services NV talked its $600 million offering of non-callable 10-year senior notes (confirmed Ba1/expected BB+) to yield 5½% to 5¾%, a syndicate source said on Wednesday.

Books close at 9:30 a.m. ET on Thursday, and the deal is set to price thereafter.

Joint bookrunner Credit Suisse will bill and deliver. Goldman Sachs, ING, Jefferies, RBS, Rabobank and UBS are also joint bookrunners.

The Rule 144A and Regulation S for life notes feature a 101% poison put.

Proceeds will be used to help fund the acquisition of Petra Foods' coca ingredients division.

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