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Australia’s Thiess starts roadshow for $1.3 billion two-part secured notes offering
By Paul A. Harris
Portland, Ore., Feb. 22 – Thiess Group Holdings Pty Ltd. started a roadshow on Monday for $1.3 billion of senior secured bullet notes (Ba1/BBB-/BBB-) in two tranches, according to market sources.
The deal includes seven-year notes with initial talk in the 5% area and eight-year notes with initial talk in the 5 1/8% area.
Tranche sizes remain to be determined.
The deal is expected to price on Thursday.
JPMorgan is the lead.
The issuing entities will be subsidiaries Thiess Group Finance Pty Ltd. and Thiess Group Finance USA Pty Ltd.
The Brisbane, Australia-based mining company plans to use the proceeds to refinance its A$1.61 billion bridge facility.
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