Elizabeth Arden to price $150 million 10-year notes Friday

By Paul A. Harris

St. Louis, Jan. 6 - Elizabeth Arden Inc. is expected to price $150 million of senior subordinated notes due 2014 (B-) on Friday, a syndicate source said.

The company will host an investor conference call on Wednesday.

Credit Suisse First Boston and Morgan Stanley are joint bookrunners on the Rule 144A deal. CIBC World Markets is co-manager.

The offering is non-callable for five years.

Elizabeth Arden plans to use proceeds from the notes to help fund the tender for $104 million of 11¾% senior secured notes due 2011 and to redeem $20 million of 10 3/8% senior notes due 2007.

Elizabeth Arden is a New York City-based fragrance and beauty products company.

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