Elizabeth Arden price talk 8%-8¼% on $150 million 10-year notes

By Paul A. Harris

St. Louis, Jan. 7 - Price talk of 8%-8¼% emerged Wednesday on Elizabeth Arden Inc.'s proposed $150 million of 10-year senior subordinated notes (B-), a syndicate source said.

The deal is expected to price Thursday.

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

The notes come with five years of call protection.

The New York City-based fragrance and beauty products company plans to use proceeds to help fund the tender for $104 million of 11¾% senior secured notes due 2011 and the redemption of $20 million of 10 3/8% senior notes due 2007.

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