Reichhold Industries talks $195 million eight-year notes at 8¾%-9%, pricing Wednesday afternoon

By Paul A. Harris

St. Louis, Aug. 8 - Reichhold Industries, Inc. has talked its $195 million offering of eight-year senior notes (B2/BB-) at 8¾% to 9%, according to an informed source.

Books for the Rule 144A offering, via joint bookrunners Banc of America Securities LLC and Wachovia Securities, will close at 3:30 p.m. ET on Wednesday, with the notes pricing afterwards.

The notes will come with four years of call protection.

Proceeds will be used to repay existing debt and pay a $20 million dividend to shareholders.

Reichhold is a Durham, N.C.-based supplier of unsaturated polyester resins for composite applications and resins and other polymers for coating applications.

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