True Temper $125 million seven-year notes price talk 81/2-8¾%, to price Wednesday

By Paul A. Harris

St. Louis, March 2 - The price talk is 8½% to 8¾% on True Temper Sports Inc.'s proposed $125 million offering of seven-year senior subordinated notes (B3/B-), according to an informed source.

The deal is expected to price on Wednesday afternoon.

Credit Suisse First Boston is the bookrunner on the Rule 144A offering. Goldman Sachs & Co. is co-manager.

The notes are expected to come with four years of call protection.

Proceeds will be used to help support the leveraged buyout by management and Gilbert Global Equity Partners from Cornerstone Equity Investors, including the repayment of a $14.2 million bank loan, $106.1 million of 10 7/8% senior subordinated notes, and $82.8 million of preferred securities.

The Memphis, Tenn., company manufactures sporting goods products.

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