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Communications & Power Industries price talk 8%-8¼% on $125 million eight-year notes
By Paul A. Harris
St. Louis, Jan. 14 - Price talk of 8% to 8¼% emerged Wednesday on Communications & Power Industries Inc.'s proposed $125 million of eight-year senior subordinated notes (B-), a syndicate source said.
The deal is expected to price late Thursday.
UBS Investment Bank and Bear Stearns & Co. are joint bookrunners on the Rule 144A offering. Wachovia Securities is co-manager.
The notes will come with four years of call protection.
Proceeds will be used to help fund the acquisition of the company by Cypress Group LLC and to repay existing debt.
Communications & Power is a Palo Alto, Calif.-based manufacturer and distributor of vacuum electron devices and other related equipment for defense and commercial applications.
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