Sequa Corp. - $700 million of 144A-for-life notes in two parts, consisting of
$450 million of senior cash-pay notes due 2015 noncallable for 4 years and $250 million of senior discount 8.5-year notes noncallable for 4 years with a 2.5-year zero coupon. (Caa2/CCC+) Via Lehman Brothers, Citigroup and JPMorgan. Proceeds, along with a $1.2 billion senior secured term loan and $150 million senior secured revolver, will fund the $ 2.7 billion buyout of Sequa by Carlyle.