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Del Monte $300 million 10-year notes talked at 8½%-8¾%, pricing Thursday
By Paul A. Harris
St. Louis, Dec. 11 - Price talk of 8½%-8¾% emerged Wednesday on Del Monte Foods Co.'s upcoming sale of $300 million of senior subordinated notes due 2012 (B2/B pending closing of merger), according to a syndicate source.
The deal is expected to price Thursday.
Morgan Stanley, JP Morgan, Banc of America Securities and UBS Warburg are joint bookrunners. BMO Nesbitt Burns and SunTrust Robinson Humphrey are co-managers.
The Rule 144A notes will be issued through SKF Foods Inc. and Del Monte Corp. and will be non-callable for five years.
Proceeds will be used to finance the merger with certain H.J. Heinz Co. businesses.
The issuer is a San Francisco-based processed food company.
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