Advanstar sets talk on $400 million fixed- and floating-rate notes

By Paul A. Harris

St. Louis, July 31 - Price talk emerged Thursday on Advanstar Communications Inc.'s two-tranche offering of $400 million second-priority senior secured notes, according to market sources.

Talk is 10¼%-10½% on the seven-year non-call-four fixed-rate notes. The five-year floating-rate notes are talked at Libor plus 700-725 basis points.

Credit Suisse First Boston is bookrunner on the Rule 144A deal. Fleet Securities is co-manager.

Proceeds will be used to repay bank debt.

Advanstar is a Boston-based business information company.

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