Intergen sets price talk for $1.975 billion multi-currency notes offer

By Paul A. Harris

St. Louis, July 17 - Intergen Group set price talk for it $1.975 billion equivalent multi-currency offering of senior secured notes (Ba3/BB-) on Tuesday, according to an informed source.

The Burlington, Mass., power generation company talked three tranches of 10-year notes as follows:

• Dollar-denominated notes at the 8½% area;

• Euro-denominated notes at the 8% area; and

• Sterling-denominated notes at the 9% area.

All three tranches of 10-year notes come with five years of call protection.

No price talk was given for an expected offering of floating-rate notes.

Tranche sizes remain to be determined.

The order book for the dollar-denominated notes closes at 5 p.m. ET on Wednesday.

Books for the euro- and sterling-denominated notes close at 6 a.m. ET on Thursday.

Pricing is expected Thursday in the New York morning.

Merrill Lynch & Co. is the bookrunner.

Proceeds will be used to refinance leveraged buyout-related debt.

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