Texas Genco $1.125 billion 10-year notes talked to yield 6 7/8%-7 1/8%, to price Wednesday

By Paul A. Harris

St. Louis, Dec. 7 - Price talk on Texas Genco LLC's $1.125 billion offering of 10-year senior notes (B1/B) is 6 7/8% to 7 1/8%, according to a syndicate source.

Pricing is expected to take place on Wednesday.

The notes will be non-callable for five years.

Goldman Sachs & Co. has the physical books for the Rule 144A offering. Morgan Stanley, Deutsche Bank Securities and Citigroup are joint bookrunners.

Proceeds will be used to help fund the acquisition of Texas Genco by the Blackstone Group, Hellman & Friedman, Kohlberg Kravis Roberts and Texas Pacific Group.

The Houston-based company is a wholesale electric power generator.

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