Buzz Box

By Editorial Staff

June 23, 2008

Banc of America Securities priced a $150 million deal for Australian company OneSteel, a manufacturer of steel long products and a metals distribution company. The agent structured the deal in a seven-year tranche that priced with a 7% coupon; a10-year tranche that priced with a 7.33% coupon; and a 12-year tranche that priced with a 7.43% coupon, sources said. The company manages more than A$6 billion ($5.6 billion) in assets. It is viewed as a NAIC-2 type issuer.

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