Expedia sets talk for $500 million eight-year senior notes at 8½% area

By Paul A. Harris

St. Louis, June 18 - Expedia Inc. set price talk for its $500 million offering of eight-year senior unsecured notes (Ba2/BB) at the 8½% area on Wednesday, according to market sources.

The Rule 144A with registration rights notes are expected to price on Thursday afternoon.

J.P. Morgan Securities Inc. and Banc of America Securities LLC are joint bookrunners. BNP Paribas, HSBC, Mizuho Securities USA, RBS Greenwich Capital and SG Corporate & Investment Banking are the co-managers.

The notes will come with four years of call protection.

Proceeds will be used for general corporate purposes and to repay $330 million outstanding under the company's credit facility.

The prospective issuer is a Bellevue, Wash., online travel services company.

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