American Seafoods $175 million eight-year notes talked at 10¼% area, pricing Thursday

By Paul A. Harris

St. Louis, Mo., April 3 - American Seafoods Group's offering of $175 million eight-year senior subordinated notes (B3/B) is talked at a yield in the 10¼% area, with pricing set for Thursday, according to a syndicate source.

Banc of America Securities is the bookrunner on the Rule 144A offering. BMO Nesbitt Burns and Scotia Capital are co-managers.

The notes are non-callable for four years.

Proceeds will be used by the Seattle, Wash. seafood company to fund its recapitalization by Centre Partners Management, certain members of management and existing rollover investors.

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