New World talks €275 million eight-year notes to yield 8%-8¼%

By Paul A. Harris

Portland, Ore., Jan. 15 - Czech Republic-focused New World Resources plc talked its €275 million offering of eight-year notes to yield 8% to 8¼%, market sources said on Tuesday.

The books close at 5 a.m. ET, 10 a.m. GMT, on Wednesday, and the deal is set to price thereafter.

Citigroup, Morgan Stanley, Goldman Sachs and Erste Bank are managing the sale.

The proceeds will be used to repay the company's existing 2015 notes.

New World Resources is an Amsterdam-based central European coal producer with operations in the Czech Republic.

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