Cole National price talk 8¾%-9%, pricing Wednesday

By Paul A. Harris

St. Louis, Mo., May 13 - Official price talk of 8 ¾%-9% came out Monday on Cole National Group, Inc.'s offering of $150 million of senior subordinated notes due 2012 (B2/B), according to a syndicate source, who added that the deal is expected to price Wednesday.

Lehman Brothers and CIBC World Markets are joint bookrunners. McDonald & Co. is a co-manager.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to fund the tender for Cole's $150 million 9 7/8% notes due 2006.

Cole is a Cleveland, Ohio retailer of eye-glass services and managed vision care services and also owns a personalized gift business.

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