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EMI talks $350 million eight-year senior notes to yield 7½%-7¾%; pricing Thursday
By Paul A. Harris
Portland, Ore., May 25 – EMI Publishing Group North America Holdings Inc. talked its $350 million offering of eight-year senior notes (B3/B) to yield 7½% to 7¾%, an informed source said on Wednesday.
Books close at 12:30 p.m. ET on Thursday, and the Rule 144A and Regulation S offering is set to price thereafter.
Goldman Sachs & Co. is the left bookrunner. UBS Investment Bank is the joint bookrunner.
The notes come with three years of call protection.
The London-based publishing company plans to use the proceeds plus cash on hand to redeem its 12½% senior notes due 2020.
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