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Rhodia €1.1 billion seven-year floaters talked at Euribor plus 275-287.5 bps, to price Tuesday in London
By Paul A. Harris
St. Louis, Oct. 2 - French specialty chemical firm Rhodia SA is talking its €1.1 billion offering of seven-year senior floating-rate notes (B2/B-) at Euribor plus 275 to 287.5 basis points.
The books will close at noon GMT on Tuesday, with pricing expected thereafter.
Credit Suisse has the books for the notes, which are being sold via Rule 144A and Regulation S. BNP Paribas is the joint lead manager.
The notes will become callable after one year at 102, with the call premium declining to 101 after two years, and to par after the third year.
The notes will be pari passu with the Paris-based company's existing senior notes.
Proceeds will be used to refinance existing debt.
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