New Issue: Jarden prices $300 million eight-year notes at par to yield 5%

By Paul A. Harris

Portland, Ore., Oct. 21 – Jarden Corp. priced a $300 million issue of eight-year senior notes (Ba3/BB) at par to yield 5% on Wednesday, according to an informed source.

The yield printed at the tight end of the 5% to 5¼% official yield talk. That talk came on top of initial guidance.

Barclays was the lead left bookrunner. Credit Suisse Securities (USA) LLC, UBS Investment Bank, Wells Fargo Securities LLC and Credit Agricole CIB were the joint bookrunners.

Proceeds will be used to fund the acquisition of Visant Holding Corp.

If the acquisition is not consummated on or prior to Dec. 31, 2015, the issuer will redeem the notes at par plus accrued interest.

Jarden is a Boca Raton, Fla.-based consumer products company. Visant is a Minneapolis-based marketing and publishing services enterprise servicing the school affinity, direct marketing, fragrance, cosmetic and personal care sampling and packaging and educational and trade publishing segments.

Issuer:	Jarden Corp.
Amount:	$300 million
Maturity:	Nov. 15, 2023
Securities:	Senior notes
Lead left bookrunner:	Barclays
Joint bookrunners:	Credit Suisse Securities (USA) LLC, UBS Investment Bank, Wells Fargo Securities LLC, Credit Agricole CIB
Co-managers:	SunTrust Robinson Humphrey Inc., PNC Capital Markets, HSBC Bank, RBC Capital Markets
Coupon:	5%
Price:	Par
Yield:	5%
Spread:	314 bps
First call:	Nov. 15, 2018 at 103.75
Trade date:	Oct. 21
Settlement date:	Oct. 30
Ratings:	Moody's: Ba3
	Standard & Poor's: BB
Distribution:	Rule 144A and Regulation S for life
Price talk:	5% to 5¼%
Marketing:	Roadshow

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.