Primus goes long with new bond issue

Credit derivatives product company Primus Guaranty has priced $125 million in 30-year senior bonds.

Paying a coupon of 7%, the deal is expected to be rated Baa1 by Moody’s and BBB+ by Standard & Poor’s.

The issue is for general corporate purposes and was led by Wachovia, Morgan Stanley, Lehman Brothers and Banc of America.

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