Imax $160 million seven-year notes talked at 9¾% area, pricing Wednesday

By Paul A. Harris

St. Louis, Nov. 18 - Price talk of the 9¾% area emerged Tuesday on Imax Corp.'s upcoming sale of $160 million of seven-year senior notes (B3/B-), according to a syndicate source.

The deal is expected to price on Wednesday, the source added.

Credit Suisse First Boston is the bookrunner for the Rule 144A offering. The co-managers are Jefferies & Co., Wachovia Securities and US Bancorp Piper Jaffrey.

Imax will use proceeds to refinance outstanding debt including funding its tender for $153 million of 7 7/8% senior notes due 2005.

The company is a Mississauga, Ont.-based movie theater operator.

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