Alpharma eight-year notes upsized to $220 million, talked at 8¾%-9%

By Paul A. Harris

St. Louis, April 15 - Alpharma Inc. upsized to $220 million from $200 million its planned offering of eight-year senior notes, according to a syndicate source who added that official price talk is 8¾%-9%.

The deal is expected to price on Thursday morning, the source said.

Banc of America Securities is the bookrunner. CIBC World Markets is the co-manager.

The Rule 144A notes are non-callable for four years.

Proceeds will be used to repay debt incurred in the acquisition of FH Faulding & Co. Ltd.

Alpharma is a Fort Lee, N.J.-based specialty pharmaceutical company.

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