Tereos lowers talk on €400 million seven-year bullets to 6 3/8%-6¼%

By Paul A. Harris

St. Louis, April 3 - French sugar producer Tereos has lowered price talk on its €400 million offering of seven-year senior bullet notes (Ba3/BB-) to 6 3/8% to 6¼% from 6½% to 6¾%, according to a market source.

Pricing is expected on Wednesday.

Calyon Securities has the books for the Rule 144A and Regulation S with no registration rights offering.

Proceeds will be used principally to refinance a €300 million subordinated bridge loan.

The company is based in Lille, France.

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