Aventine Renewable Energy talks $300 million 10-year notes at 10% area

By Paul A. Harris

St. Louis, March 20 - Aventine Renewable Energy Holdings, Inc. set price talk for its $300 million offering of 10-year senior notes (B3) at the 10% area on Tuesday, according to a market source.

The notes are expected to price on Wednesday afternoon.

JP Morgan, Goldman Sachs & Co. and UBS Investment Bank are joint bookrunners for the Rule 144A and Regulation S offering. Banc of America Securities LLC, Wachovia Securities and Friedman Billings Ramsey are co-managers.

The notes will come with five years of call protection.

Proceeds will be used to fund a portion of the company's capacity expansion plans.

Aventine is a Pekin, Ill., producer, marketer and end-to-end distributor of ethanol.

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