W.R. Grace talks $955 million eight-year notes to yield 5 5/8%-5 7/8%; pricing Wednesday

By Paul A. Harris

Portland, Ore., Aug. 11 – W.R. Grace Holdings LLC talked its $955 million offering of eight-year senior notes to yield 5 5/8% to 5 7/8%, inside of initial guidance in the 6% area, according to market sources.

The Rule 144A and Regulation S offering is expected to price on Wednesday.

J.P. Morgan Securities LLC is leading the deal.

The notes come with three years of call protection.

The notes offering comes in connection with the anticipated merger of Standard Industries Holdings Inc. and W.R. Grace & Co.

The New York-based industrial company plans to use the proceeds to repay certain debt.

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