Boart Longyear begins marketing $250 million 10-year senior notes

By Paul A. Harris

Portland, Ore., March 11 - Boart Longyear Management Pty. Ltd. began marketing a $250 million offering of 10-year senior notes on Friday, according to an informed source.

A roadshow gets underway on Tuesday in New York City, then moves to Boston on Wednesday, to Los Angeles on Thursday, and wraps up in San Francisco on March 18.

Goldman Sachs & Co. is the bookrunner for the Rule 144A for life and Regulation S offering.

The notes come with five years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to repay debt and for general corporate purposes.

Boart Longyear is a Salt Lake City-based provider of contract drilling services mining products.

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