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Drummond to price $250 million five-year senior notes Oct. 12 week
By Paul A. Harris
St. Louis, Oct. 13 - Drummond Co. plans to price a $250 million offering of five-year senior notes (B1) before the end of the Oct. 12 week, according to market sources.
The syndicate of banks working the Rule 144A for life deal includes Citigroup Global Markets Inc., Bank of America Merrill Lynch, HSBC Securities, Wells Fargo Securities and Scotia Capital.
The notes will come with two years of call protection.
Proceeds will be used to repay bank debt.
Drummond is a Birmingham, Ala., coal producer.
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