Goodman $650 million two-part talked Libor plus 300-325 bps on floater, fixed-rate notes at 8% area

By Paul A. Harris

St. Louis, Dec. 14 - Goodman Global Holdings Inc. issued price talk Tuesday on its $650 million two-part offering of high-yield notes, according to a syndicate source.

Price talk on a tranche of 7.5-year senior floating-rate notes (B3/B-), which are non-callable for two years, is Libor plus 300 to 325 basis points. Meanwhile talk on a tranche of eight-year non-call-four senior subordinated notes (Caa1/B-) is the 8% area.

Tranche sizes in the offering remain to be determined. Pricing is expected late Wednesday afternoon.

UBS Investment Bank, JP Morgan and Credit Suisse First Boston are joint bookrunners.

Proceeds will be used to back the $1.43 billion acquisition of the company by Apollo Management LP.

Goodman Global Holdings is a Houston-based manufacturer of residential and light commercial heating and air conditioning products.

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