Prince Mineral starts roadshow for $260 million first-lien notes

By Paul A. Harris

Portland, Ore., Dec. 3 - Prince Mineral Holding Corp. is marketing a $260 million offering of seven-year first-lien senior secured notes on an investor roadshow set to run during the present week, according to an informed source.

Credit Suisse Securities (USA) LLC and BMO Capital Markets are the joint bookrunners.

The Rule 144A and Regulation S with registration rights notes will become callable in 2015 at par plus 75% of the coupon.

The notes feature a 35% equity clawback until 2015 and a 101% poison put.

Proceeds will be used to fund an acquisition and repay debt.

The prospective issuer is a New York City-based specialty chemicals production company owned by Palladium Equity Partners.

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