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IMC Global $310 million 10-year notes talked at 10¾%-11%, pricing Friday
By Paul A. Harris
St. Louis, July 17 - The price talk is 10¾%-11% on IMC Global Inc.'s upcoming sale of $310 million 10-year senior unsecured notes (B1/B+/B+), according to an informed source.
The deal is expected to price on Friday, the source added.
Goldman Sachs & Co. and JP Morgan are underwriters on the Rule 144A deal.
Proceeds will be used to fund the purchase of up to $100 million of IMC Global's 6.55% notes due 2005 and up to $200 million of its 7 5/8% senior notes due 2005.
The company is a Lake Forest, Ill.-based producer and marketer of concentrated phosphates and potash crop nutrients for the agricultural industry and animal feed ingredients.
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