Alon Refining Krotz Springs sets talk for $205 million five-year notes

By Paul A. Harris

St. Louis, Oct. 9 - Alon Refining Krotz Springs, Inc. set price talk for its $205 million offering of five-year senior secured notes (/expected BB/) on Friday, according to an informed source.

The notes are talked to price with a 13¼% coupon, discounted by 4 to 5 points, to yield 14½%, plus or minus ¼%.

Pricing is set for Tuesday afternoon.

Jefferies & Co. is the bookrunner for the Rule 144A with registration rights offering.

The notes come with three years of call protection.

Alon Refining Krotz Springs is a Louisiana subsidiary of Dallas-based Alon USA Energy Inc., an independent refiner of petroleum products.

Proceeds will be used to refinance Alon Refining Krotz Springs' existing term loan and for general corporate purposes.

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