Ames True Temper $150 million eight-year notes talked to yield 9¾%-10%

By Paul A. Harris

St. Louis, June 22 - Ames True Temper Inc.'s offering of $150 million of eight-year senior subordinated notes (Caa1) is talked to yield 9¾% to 10%, according to an informed source.

Pricing is expected on Wednesday afternoon.

Banc of America Securities is the bookrunner for the Rule 144A offering. Wachovia Securities is the co-manager.

The notes will come with four years of call protection.

Proceeds will be used to help fund Castle Harlan's leveraged buyout of Ames True Temper from Wind Point Partners.

The prospective issuer is a Camp Hill, Pa., manufacturer of non-motorized lawn and garden tools.

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