Cooperative Computing $175 million eight-year notes talked at 10¾%-11%, pricing Friday

By Paul A. Harris

St. Louis, June 12 - Price talk of 10¾%-11% emerged Thursday on Cooperative Computing, Inc.'s upcoming sale of $175 million eight-year senior notes (B2/B+), according to a market source.

The deal is expected to price on Friday, the source added.

JP Morgan is the bookrunner for the Rule 144A offering.

The notes are non-callable for four years.

Proceeds will be used to repurchase shares and repay debt.

Cooperative Computing is an Austin, Tex.-based provider of enterprise systems and information services for the automotive aftermarket.

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