American Achievement $175 million notes talked at 11¾%-12%, pricing Thursday

By Paul A. Harris

St. Louis, Mo., Feb. 12 - Price talk of 11¾%-12% emerged Tuesday on American Achievement Corp.'s offering of $175 million senior notes due Jan. 1, 2007 (B1/B+), according to a syndicate source.

The deal is set to price Thursday according to the source.

Deutsche Banc Alex. Brown is running the books, Goldman Sachs is co-lead and Scotia Capital is co-manager.

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

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