Giant Industries to hit road Tuesday with $200 million 10-year deal

By Paul A. Harris

St. Louis, Mo., April 26 - Giant Industries, Inc. will start the roadshow Tuesday for a new offering of $200 million of senior subordinated notes due 2010 (existing ratings B2/B+), according to a syndicate source.

The roadshow is expected to conclude May 9 with pricing expected the same day.

Banc of America Securities is the bookrunner. BNP Paribas is joint lead and Fleet Securities is co-manager.

The Rule 144A notes are callable for the first five years with a make-whole call and contain an equity clawback of 35% for the first three years.

Proceeds will be used to acquire the Yorktown Refinery in Virginia and to redeem the 9¾% senior subordinated notes due 2003.

The company is Scottsdale, Ariz.-based oil refiner and marketer.

© 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.