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Doane Pet Care $200 million notes talked at 11% area, pricing Friday morning
By Paul A. Harris
St. Louis, Feb. 19 - Price talk of 11% area emerged Wednesday on Doane Pet Care's upcoming sale of $200 million seven-year senior notes (B2/B-), according to market sources.
The deal is expected to price Friday morning, the sources said.
Credit Suisse First Boston and JP Morgan are joint bookrunners.
The Rule 144A notes are non-callable four years.
Proceeds will be used to repay a portion of the senior credit facility and to repay the sponsor facility in full.
The issuer is a Brentwood, Tenn.-based private pet food company.
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