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Asia Aluminum $425 million seven-year notes guidance 8%-8¼%, to price Thursday
By Paul A. Harris
St. Louis, Dec. 15 - Price guidance on Asia Aluminum Holdings Ltd.'s $425 million offering of seven-year senior unsecured notes (Ba3/BB) emerged Wednesday at 8% to 8¼%, according to an informed source.
The issue is expected to price Thursday morning New York time.
Morgan Stanley has the books for the Rule 144A/Regulation S notes.
The notes will include a make-whole call at Treasuries plus 50 basis points.
Proceeds will be used to repay the company's existing $75 million syndicated loan and for capital expenditures, with part of the proceeds to be kept in an escrow account in the event that a minority shareholder exercises a put option.
The Hong Kong-based company is a processed aluminum producer.
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