Reliant Resources $350 million seven-year notes talked at 9¼%-9½%, pricing Thursday

By Paul A. Harris

St. Louis, June 24 - The price talk is 9¼%-9½% on Reliant Resources, Inc.'s upcoming offering of $350 million seven-year non-call-four senior secured notes (B1/B+), according to a syndicate source.

The deal is expected to price on Thursday.

Banc of America Securities, Goldman Sachs & Co., Deutsche Bank Securities and Barclays Capital are joint bookrunners on the Rule 144A offering.

Proceeds will be used to repay debt under the existing credit facility.

The company is a Houston-based provider of electricity and energy services.

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