AEP Industries $175 million eight-year notes talked 7¾%-8%, to price Thursday

By Paul A. Harris

St. Louis, March 9 - AEP Industries Inc.'s $175 million offering of eight-year senior notes (B2/B) is talked to yield 7¾% to 8%, according to a market source.

Pricing is expected to take place Thursday afternoon.

The notes will be non-callable for four years.

Merrill Lynch & Co. has the books for the Rule 144A/Regulation S offering. Deutsche Bank Securities is the co-manager.

Proceeds, along with borrowings from the company's revolving credit facility, will be used to repurchase $200 million of its 9 7/8% senior subordinated notes due 2007.

AEP Industries is a South Hackensack, N.J.-based manufacturer, marketer and distributor of plastic packaging products for the food and beverage markets as well as the industrial and agricultural markets.

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