Global Cash Access price talk 8 7/8-9 1/8% on $235 million eight-year notes

By Paul A. Harris

St. Louis, March 2 - Price talk of 8 7/8% to 9 1/8% was heard Tuesday on Global Cash Access LLC's proposed $235 million offering of eight-year senior subordinated notes (Caa1/B-), market sources said.

The deal is expected to price late Wednesday or early Thursday.

Banc of America Securities has the books on the Rule 144A offering, which will have registration rights.

The notes will come with four years of call protection.

Proceeds will be used to finance M&C's purchase of First Data's 67% equity interest in Global Cash Access.

The company is a Las Vegas-based provider of transaction-processing services and products that dispense cash to casino customers.

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