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New Issue-Owens Corning sells $350 mln in 10-yr notes

Wed Jun 3, 2009 2:35pm EDT

Stocks

    
  June 3 (Reuters) - Building materials maker Owens Corning
(OC.N) on Wednesday sold $350 million in 10-year notes, said
IFR, a Thomson Reuters service.
  The size of the deal was increased from an originally
planned $250 million.
  Bank of America, Citigroup, JP Morgan, and Wachovia were
the joint bookrunning managers for the sale.
BORROWER: OWENS CORNING
AMT $350 MLN      COUPON 9.00 PCT     MATURITY 6/15/2019 
TYPE NOTES        ISS PRICE 98.386    FIRST PAY 12/15/2009
MOODY'S Ba1       YIELD 9.25 PCT      SETTLEMENT 6/8/2009
S&P BBB-MINUS     SPREAD 570.1 BPS/   PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS



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