New Issue: ASPropulsion prices €200 million 10-year notes to yield 9 5/8%

By Paul A. Harris

St. Louis, Sept. 29 - ASPropulsion Capital BV priced €200 million of senior notes due Oct. 1, 2013 (B2/B-) at par Monday to yield 9 5/8%, according to a syndicate source.

Price talk was for a yield in the 9 5/8% area, having tightened from 9¾%-10%.

Lehman Brothers, Citigroup and Goldman Sachs were joint bookrunners on the Rule 144A/Regulation S issue.

Proceeds will be use to help fund the LBO of the FiatAvio SpA aviation engine business by The Carlyle Group.

Issuer:	ASPropulsion Capital BV
Amount:	€200 million
Maturity:	Oct. 1, 2013
Security description:	Senior notes
Bookrunners:	Lehman Brothers, Citigroup, Goldman Sachs
Coupon:	9 5/8%
Price:	Par
Yield:	9 5/8%
Call features:	Callable with a Treasuries plus 50 basis points make-whole call until Oct. 1, 2008, then at 104.813, 103.208, 101.604, declining to par on Oct. 1, 2011 and thereafter
Equity clawback:	Until Oct. 1, 2006 for 35% at 109.625
Settlement date:	Oct. 3 (T+3)
Ratings:	Moody's: B2
	Standard & Poor's: B-
Price talk:	9 5/8% area (tightened from 9¾%-10%)

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