AmeriCredit $300 million seven-year notes talked at 9%-9¼%, pricing late Wednesday

By Paul A. Harris

St. Louis, Mo., June 11 - Price talk of 9%-9¼% was heard Tuesday on AmeriCredit Corp.'s $300 million of seven-year senior notes (Ba1/BB-), according to a syndicate source. The deal is expected to price late Wednesday.

Bear Stearns and JP Morgan are joint bookrunners. Deutsche Bank Securities Inc. and RBC are co-managers.

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

Proceeds will be used to fund a tender offer and consent solicitation for AmeriCredit's $175 million outstanding 9¼% senior notes due 2004 and for general corporate purposes.

The issuer is a Fort Worth, Tex.-based middle-market auto finance company.

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