Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Milacron LLC > News item |
Milacron talks $265 million seven-year notes with 8 5/8% area yield
By Paul A. Harris
Portland, Ore., April 19 - Milacron LLC talked its $265 million offering off seven-year senior secured notes (B1/B+) with a yield in the 8 5/8% area on Thursday, according to a syndicate source.
The books close noon ET Friday except for accounts meeting with the company on Friday, and the deal is set to price thereafter.
Bank of America Merrill Lynch, RBC Capital Markets and Barclays Capital Inc. are the joint bookrunners. KeyBanc Capital Markets is the co-manager.
The Rule 144A and Regulation S for life notes become callable after three years at par plus 75% of the coupon. They feature a 101% poison put.
Proceeds will be used to finance the acquisition of the company by CCMP Capital.
The issuing entities will be Mcron Finance Sub LLC and Mcron Finance Corp., with Mcron Finance Sub to be ultimately merged with and into Milacron, a Cincinnati-based manufacturer and supplier of plastics-processing technologies and metalworking fluids.
© 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.