Interface to price $175 million eight-year notes Friday

By Paul A. Harris

St. Louis, Mo., Jan. 8 - Interface Inc. is scheduled to price $175 million of senior notes due 2010 on Friday, according to a syndicate source. Conference calls are scheduled for Wednesday and Thursday.

Salomon Smith Barney and Wachovia Securities are joint bookrunners for the deal, according to the source who added that the syndicate also includes SunTrust Robinson Humphrey Capital Markets and Fleet Securities.

The Rule 144A notes are non-callable and include an equity clawback of 35% for three years.

Moody's Investors Service rates Interface's existing debt B2 and Standard & Poor's rates it BB.

Proceeds will be used to repay the Atlanta, Ga.-based floor covering company's bank debt.

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