Ipsco $150 million 10-year notes talked at 8 7/8%-9 1/8%, pricing Friday morning

By Paul A. Harris

St. Louis, June 11 - Price talk of 8 7/8%-9 1/8% emerged Wednesday on Ipsco Inc.'s upcoming offering of $150 million 10-year senior notes (Ba3/BB+), according to a syndicate source.

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

UBS Warburg and RBC are joint bookrunners for the Rule 144A transaction. ABN Amro, CIBC World Markets, TD Securities and Wells Fargo are co-managers.

The Regina, Saskatchewan steel producer will use proceeds to repay its credit facility, to redeem its 10.58% notes and for general corporate purposes.

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