Intergen delays pricing of $1.975 billion notes offer until Monday due to market volatility

By Paul A. Harris

St. Louis, July 20 - Intergen Group has delayed the pricing of its $1.975 billion three-part bond deal until Monday due to market volatility, according to an informed source, who added that no changes to the size and structure of the offering have been announced.

Earlier in the week the Burlington, Mass., power generation company backed up price talk on its multi-currency bond offering of 10-year senior secured notes (Ba3/BB-).

A dollar denominated tranche was talked at 8 7/8% to 9%, increased from the 8½% area. The size of the dollar-denominated tranche remains to be determined.

Meanwhile price talk was raised on a €200 million to €300 million tranche to 8 3/8% to 8½%, increased from the 8% area.

And talk was also increased on a £250 million to £300 million tranche to 9 3/8% to 9½%, increased from the 9% area.

Merrill Lynch & Co. is the bookrunner.

Proceeds will be used to refinance LBO-related debt.

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