Berry Petroleum talks $200 million 10-year notes at 8%-8¼%; pricing expected late Wednesday

By Paul A. Harris

St. Louis, Oct. 16 - Berry Petroleum Co. talked its $200 million offering of 10-year senior subordinated notes (B3/B) at 8% to 8¼% on Monday, according to a market source.

Pricing is expected late Wednesday.

JP Morgan, Citigroup, Wells Fargo Securities and Goldman Sachs & Co. are joint bookrunners for the offering of notes, which have been registered with the Securities and Exchange Commission. Societe Generale, Wedbush Morgan, Comerica, Piper Jaffray and First Albany are co-managers.

The notes will come with five years of call protection.

Proceeds will be used to repay the company's revolving credit facility and for general corporate purposes.

Berry Petroleum is a Bakersfield, Calif., petroleum exploration and production company.

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