Elizabeth Arden talks $225 million 10-year notes with 7½% area yield

By Paul A. Harris

Portland, Ore., Jan. 12 - Elizabeth Arden Inc. talked its $225 million offering of 10-year senior notes (B1/B/) with a 7½% area yield on Wednesday, according to a market source.

The deal is set to price Thursday morning.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities are the joint bookrunners for the Rule 144A offering. HSBC is the co-manager.

The notes come with five years of call protection.

Proceeds will be used to fund a tender offer covering any and all of its $220 million of 7¾% senior subordinated notes due 2014.

Elizabeth Arden is a Miramar, Fla.-based beauty products company.

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