Waterford Wedgwood €165 million seven-year mezzanine notes talked at 9¾%-10%

By Paul A. Harris

St. Louis, Nov. 25 - Price talk of 9¾%-10% emerged Tuesday on Waterford Wedgwood plc's upcoming sale of €165 million seven-year subordinated mezzanine notes (B3/B-), according to an informed source.

The deal is expected to price on Wednesday.

Barclays Capital is the bookrunner on the Rule 144A/Regulation S offering. Davy Stock Brokers is co-manager.

The notes will be non-callable for three years.

Waterford Wedgwood will use proceeds to repay part of its existing debt and to redeem U.S. private placement notes.

The company is an Ireland-based luxury table- and dinner-ware manufacturer.

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