Unisys to price $450 million two-part note offering on Friday

By Paul A. Harris

St. Louis, Sept. 8 - Unisys Corp. plans to price a $450 million two-part offering of senior notes (Ba3/BB-) on Friday, according to informed sources.

The Blue Bell, Pa., information technology company talked its seven-year bullet tranche at 8% to 8 1/8%.

Meanwhile Unisys talked its tranche of 10-year notes 3/8% behind the seven-year tranche. The 10-year notes will become callable after five years.

Tranche sizes remain to be determined.

Pricing is expected on Friday.

Banc of America Securities LLC and Citigroup are joint bookrunners for the off-the-shelf transaction.

Proceeds will be used to fund the tender for $400 million of the company's 8 1/8% senior notes due June 2006.

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