Antargaz 150 million euros nine-year notes talked at 9 7/8%-10 1/8%, pricing Friday

By Paul A. Harris

St. Louis, Mo., July 11 - Price talk of 9 7/8%-10 1/8% emerged Thursday on AG Finance, SA's upcoming offering of €150 million senior notes due 2011 (B2/B), according to a syndicate source. AG Finance is a financing vehicle for Antargaz, SA.

The source added that the deal is expected to price Friday, via Deutsche Bank Securities Inc. and Credit Lyonnais.

The notes are non-callable for four years, contain an equity clawback of 35% for three years and are guaranteed on a senior subordinated basis by AGZ Holding, SA, the parent of Antargaz.

The company is a propane and butane distributor based in France.

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