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Dana $250 million eight-year notes talked at 10½%-10¾%, pricing Wednesday
By Paul A. Harris
St. Louis, Mo., March 4 - Price talk of 10½%-10¾% emerged Wednesday on Dana Corp.'s $250 million offering of senior notes due 2010 (Ba3/BB), according to a syndicate source who added that the deal is expected to price Wednesday morning.
Salomon Smith Barney is the bookrunner. Banc of America Securities is joint lead.
The Rule 144A notes are non-callable for four years.
The Toledo, Ohio auto parts supplier will use proceeds to repay debt.
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