By Andrea Heisinger
Omaha, May 12 - Harsco Corp. priced $450 million 5.75% 10-year senior notes on Monday to yield Treasuries plus 200 basis points, an informed source said.
The notes (A3/A-/A-) priced at 99.895 to yield 5.764% with a make-whole redemption of Treasuries plus 30 bps.
They feature a change-of-control put of 101%.
The notes priced at the tight end of price talk of 200 to 205 bps over Treasuries, the source said.
Bookrunners were J.P. Morgan Securities Inc., Citigroup Global Markets Inc. and RBS Greenwich Capital.
Proceeds will be used to repay a portion of the amount outstanding under its U.S. and European commercial paper programs and for general corporate purposes.
The industrial services and products company is based in Camp Hill, Pa.
| Issuer: | Harsco Corp.
|
| Issue: | Senior notes
|
| Amount: | $450 million
|
| Maturity: | May 15, 2018
|
| Bookrunners: | J.P. Morgan Securities Inc., Citigroup Global Markets Inc., RBS Greenwich Capital
|
| Coupon: | 5.75%
|
| Price: | 99.895
|
| Yield: | 5.764%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Change-of-control put: | 101%
|
| Trade date: | May 12
|
| Settlement date: | May 15
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Price talk: | 200 bps to 205 bps
|
© 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.
