Worldspan downsizes eight-year notes to $280 million, talked at 9 5/8%-9 7/8%, pricing Tuesday

By Paul A. Harris

St. Louis, June 23 - Price talk of 9 5/8%-9 7/8% emerged Monday on Worldspan LP's downsized offering of $280 million of eight-year senior notes (B-), according to a market source. The deal was reduced from $315 million.

Pricing is expected on Tuesday, the source added.

Lehman Brothers and Deutsche Bank Securities Inc. are joint bookrunners on the Rule 144A deal.

The source said that $25 million of Worldspan's financing was shifted to the bank deal and $10 million to the capitalized lease deal.

Proceeds will be used to help fund the LBO of Worldspan from three airline owners.

The Atlanta company provides travel technology resources.

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