Alpha Natural Resources $200 million eight-year notes talked 8½%-8¾%, to price Wednesday

By Paul A. Harris

St. Louis, May 11 - Price talk is 8½% to 8¾% on Alpha Natural Resources' proposed $200 million offering of eight-year senior notes (B3/CCC+), according to a market source.

The deal is expected to price Wednesday afternoon.

Credit Suisse First Boston and UBS Investment Bank are joint bookrunners on the Rule 144A/Regulation S offering. Citigroup and Morgan Stanley are co-managers.

The notes will come with four years of call protection.

Proceeds will be used to refinance debt and fund a distribution to parent ANR Holdings LLC.

The Abingdon, Va., company processes and sells steam and metallurgical coal.

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