Gibraltar Industries talks $200 million 10-year notes at 8% to 8¼%

By Paul A. Harris

St. Louis, Nov. 21 - Gibraltar Industries Inc. talked its $200 million offering of 10-year senior subordinated notes at 8% to 8¼% on Monday, according to a market source.

Pricing is expected on Tuesday afternoon.

JP Morgan has the books for the Rule 144A/Regulation S offering. KeyBank is the joint lead manager. Harris Nesbitt is the co-manager.

The notes come with five years of call protection.

Moody's Investors Service assigns its Ba3 rating to the notes. The Standard & Poor's rating is B+.

Proceeds will be used to help repay a $300 million term loan drawn down for the purpose of acquiring Alabama Metals Industries Corp.

Gibraltar is a Buffalo, N.Y., building products company.

© 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.