Compass Minerals $200 million 10-year notes talked in 10¼% area

By Paul A. Harris

St. Louis, Mo., Nov. 1 - Price talk in the 10¼% area emerged Tuesday for Compass Minerals Group's offering of $200 million of senior subordinated notes due 2011, according to syndicate sources. One source told Prospect News that the deal is set to price Thursday afternoon.

Credit Suisse First Boston, and J.P. Morgan are joint bookrunners, with Deutsche Banc Alex. Brown as co-lead.

The Rule 144A notes are non-callable for five years.

Proceeds will fund Compass Minerals' acquisition of IMC Global's salt and Ogden businesses by Apollo Management LP.

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