GrafTech talks $500 million eight-year secured notes at 5% area yield; pricing Tuesday

By Paul A. Harris

Portland, Ore., Dec. 8 – GrafTech International Ltd. talked its $500 million offering of eight-year senior secured notes (B1/BB-) to yield in the 5% area, according to market sources.

Talk comes tighter than the 5¼% to 5½% initial guidance.

The Rule 144A and Regulation S deal is set to price on Tuesday.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Parma, Ohio-based producer of graphite electrode products essential to the production of electric arc furnace steel and metals plans to use the proceeds to pay down bank debt.

© 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.