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Houston Exploration $150 million 10-year notes talked at 7%-7¼%, pricing Thursday
By Paul A. Harris
St. Louis, June 3 - Price talk of 7%-7¼% was heard Tuesday on Houston Exploration Co.'s upcoming sale of $150 million 10-year senior subordinated notes (existing ratings B2/B), according to a syndicate source.
The deal is expected to price on Thursday, the source added.
Wachovia Securities, inc. is the bookrunner for the Rule 144A transaction. Lehman Brothers, BNP Paribas, Fleet Securities and Scotia Capital are co-managers.
The notes are non-callable for five years
The Houston-based oil and gas exploration and production company will use proceeds to call its 8 5/8% senior subordinated notes.
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