Bill Barrett $200 million seven-year notes talked at 11% area, to price Tuesday morning

By Paul A. Harris

St. Louis, June 29 - Bill Barrett Corp. set price talk for its $200 million offering of seven-year senior notes (B1/B+) at the 11% area, according to an informed source.

Pricing of the deal is set for Tuesday morning.

Banc of America Securities LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are joint bookrunners for the Securities and Exchange Commission-registered deal.

Credit Suisse Securities, Wachovia Securities LLC, Morgan Stanley & Co. Inc., BMO Securities, Barclays Capital Inc. and SunTrust Robinson Humphrey Inc. are senior co-managers.

Goldman Sachs & Co., US Bancorp, BBVA Securities, Inc., Howard Weil, Inc., Mitsubishi UFJ Securities (USA), Inc., Fortis Investments and Comerica Securities, Inc. are co-managers.

The notes come with four years of call protection.

The issue is guaranteed on a senior basis by all of the company's subsidiaries and each future subsidiary that incurs or guarantees at least $10 million of debt.

Proceeds will be used to repay debt under the company's revolving credit facility.

The prospective issuer is a Denver-based oil and gas exploration, development and production company.

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