White Cap talks $300 million five-year PIK toggle notes at 8½% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Jan. 28 – White Cap Supply Holdings, LLC talked a $300 million offering of White Cap Parent, LLC (White Cap HoldCo) five-year senior PIK toggle notes (Caa1/CCC+) to yield in the 8½% area, according to market sources.

The deal is expected to price on Thursday.

Deutsche Bank Securities Inc. is leading the sale.

The notes come with one year of call protection.

The Atlanta-based provider of construction supplies plans to use the proceeds to fund a dividend to owners Clayton Dubilier & Rice and the Sterling Group.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.