Wise Metals $150 million eight-year notes talked at 9¾% area, to price Friday

By Paul A. Harris

St. Louis, April 29 - Price talk in the area of 9¾% emerged Thursday on Wise Metals Group LLC/Wise Alloys Finance Corp.'s proposed $150 million offering of eight-year senior secured notes (B2/B), according to market sources.

The deal is expected to price on Friday.

Deutsche Bank Securities and Wachovia Securities are underwriters of the Rule 144A offering.

The notes will come with four years of call protection and will be guaranteed by a first lien on property, plant, and equipment, and a second lien on accounts receivable and inventory.

Proceeds will be used to repay debt and redeem preferred shares.

The Linthicum, Md., company is a producer of aluminum beverage can stock.

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