France's Rhodia talks $400 million 10-year notes with 7% area yield

By Paul A. Harris

St. Louis, Sept. 21 - France's Rhodia SA talked its planned $400 million offering of 10-year senior notes (B1//) with a 7% area yield on Tuesday, an informed source said.

The books close at 9 a.m. ET on Wednesday.

Credit Suisse and Credit Agricole CIB are the joint bookrunners for the Rule 144 A and Regulation S for life offer.

The notes come with five years of call protection and a change-of-control put at 101.

The Paris-based specialty chemicals company will use the proceeds to repay its existing floating-rate notes due in 2013.

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