Alcatel-Lucent to price $250 million tap of 6¾% notes due 2020 Monday

By Paul A. Harris

Portland, Ore., Nov. 25 - Alcatel-Lucent USA Inc. expects to price a $250 million add-on to its 6¾% senior notes due Nov. 15, 2020 (existing ratings B3/CCC+) Monday, according to an informed source.

The offering is being marketed by means of net roadshow.

Bookrunner Citigroup Global Markets will bill and deliver for the Rule 144A and Regulation S for life deal.

The notes become callable on Nov. 15, 2016 at 103.375 and feature a 101% poison put.

Proceeds, together with cash, will be used to repay all amounts outstanding under the company's €298 million senior secured credit facility due 2019.

Alcatel-Lucent is a telecommunications equipment company based in New York and Paris.

The original $750 million issue priced at par on Nov. 7.

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