American Seafoods $125 million seven-year discount notes price talk 11¼%-11½%

By Paul A. Harris

St. Louis, Oct. 12 - ASG Consolidated/ASG Finance Groups' (American Seafoods) $125 million offering of seven-year senior discount notes is talked to yield 11¼% to 11½%, an informed source told Prospect News on Tuesday.

Marketing will continue on Wednesday, with pricing expected to take place late Wednesday or Thursday.

Banc of America Securities LLC has the books for the Rule 144A offering. Goldman Sachs & Co. is the co-manager.

The notes are expected to come with four years of call protection.

Proceeds will be used to redeem the company's preferred stock and to fund a dividend payment.

The Seattle-based company catches, processes and markets seafood.

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