Westlake Chemical $400 million eight-year notes talked at 8¾%-9%, pricing Monday afternoon

By Paul A. Harris

St. Louis, July 17 - Price talk of 8¾%-9% emerged Thursday on Westlake Chemical Corp.'s upcoming sale of $400 million senior notes due 2011 (Ba3/B+), according to a syndicate source.

The deal is expected to price on Monday afternoon, the source added.

Credit Suisse First Boston, Banc of America Securities, Deutsche Bank Securities Inc. and JP Morgan are joint bookrunners on the Rule 144A with registration rights offering. Citigroup, Scotia Capital, Credit Lyonnais and CIBC World Markets are co-managers.

Proceeds will be used to refinance the Houston petrochemical company's existing debt.

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