IESI $150 million 10-year notes talked at 10¼% area

By Paul A. Harris

St. Louis, Mo., June 5 - Price talk of a yield in the 10¼% area was heard Wednesday on IESI Corp.'s offering of $150 million of senior subordinated notes due 2012 (B3/B-), according to a syndicate source.

The deal is expected to price Friday morning.

Credit Suisse First Boston and Salomon Smith Barney are joint bookrunners. Fleet Securities and JP Morgan are co-managers.

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

Proceeds will be used to repay bank debt.

The issuer is a Haltom, Tex.-based waste collection company.

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