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MDC Partners guiding $800 million eight-year notes at 6½%, to price this week
By Paul A. Harris
Portland, Ore., March 17 – MDC Partners Inc. is initially guiding its $800 million offering of eight-year senior notes (expected ratings B3/B+) at 6½%, a trader said.
An investor call was scheduled to take place late Thursday morning.
The deal, initially expected to price on Friday could clear by Thursday’s close, sources say.
J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A for life and Regulation S offer.
The notes come with three years of call protection.
The New York-based marketing and communications network services provider plans to use the proceeds, together with cash on hand and/or drawdowns on its amended and restated senior secured revolver, to redeem all $735 million of its outstanding 6¾% senior notes due 2020.
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