General Maritime $250 million 10-year notes talked at 9¾%-10%, pricing Friday

By Paul A. Harris

St. Louis, March 12 - Price talk of 9¾%-10% emerged Wednesday on General Maritime Corp.'s upcoming sale of $250 million 10-year senior notes (B1/B+), according to a syndicate source.

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

JP Morgan is the bookrunner on the Rule 144A deal. Bank of America Securities, Credit Suisse First Boston and Lehman Brothers are co-managers.

Proceeds will be used to repay debt incurred to fund the acquisition of 19 tankers from Metrostar.

The issuer is a seaborne crude oil transporter headquartered in New York City.

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