Russell $200 million eight-year notes talked at 9¼%-9½%, pricing Thursday afternoon

By Paul A. Harris

St. Louis, Mo., April 10 - Official price talk of 9¼%-9½% was heard Wednesday on Russell Corp.'s upcoming sale of $200 million eight-year senior notes (B1/BB), according to a syndicate source who added that the deal is expected to price Thursday afternoon.

JP Morgan is the bookrunner. Fleet Securities, Merrill Lynch & Co., SunTrust and Wachovia are co-managers.

The Rule 144A notes are non-callable for four years.

The Atlanta, Ga.-based apparel company will use the proceeds to repay all of its bank debt and long-term notes, according to a syndicate source.

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