EMI €300 million 10-year notes talked at 8¾%-9%, pricing Monday

By Paul A. Harris

St. Louis, Sept. 24 - Price talk of 8¾%-9% emerged Wednesday on EMI Group plc's offering of €300 million 10-year senior notes (Ba1/BBB-), according to a syndicate source.

The deal is expected to price on Monday, the source added.

Royal Bank of Scotland, Barclays Capital and Citigroup are joint bookrunners on the Rule 144A/Regulation S (with no registration rights) offering.

The notes will be non-callable for five years.

The London-based recording company will use proceeds to refinance existing debt.

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