Gerresheimer returns with 125 million euros nine-year notes, to price Tuesday

By Paul A. Harris

St. Louis, Mo., Sept. 9 - Gerresheimer Holdings Gmbh & Co. KG is back in the market with an offering of €125 million senior subordinated notes due 2011 (B3/B), according to syndicate sources who added that the deal is expected to price Tuesday.

Price talk is 11½%.

JP Morgan and Goldman Sachs & Co. are joint bookrunners. UBS Warburg is joint lead.

The new notes will be issued under Rule 144A or Regulation S with no registration rights. They will be non-callable for four years.

Proceeds will be used to repay bank debt.

The issuer is a Düsseldorf, Germany-based company that manufactures glass and plastic packaging for the pharmaceutical, laboratory and cosmetics industries.

The company postponed a similarly-structured €150 million deal on July 26, citing market conditions.

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