GenCorp talks $460 million eight-year notes with 7¼% area yield

By Paul A. Harris

Portland, Ore., Jan. 17 - GenCorp Inc. talked its $460 million offering of eight-year second-priority senior secured notes (Ba3/B-/) with a yield in the 7¼% area on Thursday, according to a syndicate source.

The deal is set to price on Friday.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the joint bookrunners.

SunTrust Robinson Humphrey Inc. is the co-manager.

The Rule 144A with registration rights notes come with three years of call protection.

Proceeds will be used to finance the acquisition of Rocketdyne.

GenCorp is a technology-based manufacturer of aerospace and defense products and systems. It is based in Sacramento, Calif.

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