Jabil Circuit to place $300 million; Global Water announces issue; Cleco sells $165 million

By Lisa Kerner

Charlotte, N.C., May 24 – Jabil Circuit, Inc. agreed to privately place $300 million of 4.9% senior secured notes due 2023.

Proceeds will be used to repay Jabil’s $312 million 7¾% senior notes due July 15, 2016, according to a news release.

Closing is expected to occur on July 14.

Jabil is a St. Petersburg, Fla.-based electronic product solutions company.

Global Water Resources, Inc. agreed to issue two series of senior secured notes totaling $115 million at a blended interest rate of 4.55%.

The notes will be issued as $28.75 million of 4.38% 12-year series A notes and $86.25 million of 4.58% 20-year series B notes.

The series A notes have a bullet payment due June 15, 2028.

The series B notes have interest-only payments for the first five years, followed by $3.8 million annual principal payments thereafter, made semiannually.

The transaction is expected to close on June 24.

The Phoenix company owns, operates and manages water, wastewater and recycled water utilities, principally in metropolitan Phoenix.

Cleco Corporate Holdings LLC placed $165 million of 3.25% senior secured notes due May 1, 2023 on Tuesday with CoBank, ACB.

Proceeds will be used to repay a portion of the amounts due under the company’s acquisition loan facility, according to an 8-K filing with the Securities and Exchange Commission.

Cleco is a Pineville, La.-based energy company and owner of Cleco Power, an electric utility company.

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