Rayovac $300 million 10-year notes talked at 8½%-8¾%, pricing Thursday

By Paul A. Harris

St. Louis, Sept. 24 - Price talk of 8½%-8¾% emerged Wednesday on Rayovac Corp.'s planned offering of $300 million 10-year senior subordinated notes (B3/B-), according to an informed source.

The deal is expected to price mid-day Thursday, the source added.

Banc of America Securities is the bookrunner on the Rule 144A deal. Citigroup is co-manager.

The notes will be non-callable for five years.

The Madison, Wis.-based battery and lighting device company will use proceeds to help finance its acquisition of Remington Products Co. and retire Remington debt.

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