By Paul A. Harris
Portland, Ore., July 25 – Horsehead Holding Corp. priced $50 million of notes due June 1, 2017 in a Regulation D private placement on Thursday, according to information filed in an 8-K document with the Securities and Exchange Commission.
The issuance included a $40 million tranche of new 9% senior notes, which were priced at par, and a $10 million add-on to the existing 10½% senior secured notes due June 1, 2017, which priced at 113.00.
Pittsburgh-based Horsehead Holding is the parent company of Horsehead Corp., which produces specialty zinc and zinc-based products and recycles electric arc furnace dust.
| Issuer: | Horsehead Holding Corp.
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| Amount: | $50 million
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| Maturity: | June 1, 2017
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| Trade date: | July 24
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| Settlement date: | July 29
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| Distribution: | Regulation D
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| New notes
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| Amount: | $40 million
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| Securities: | Senior notes
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| Coupon: | 9%
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| Price: | Par
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| Add-on
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| Amount: | $10 million
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| Security description: | Add-on to the 10½% senior secured notes due June 1, 2017
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| Coupon: | 10½%
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| Price: | 113.00
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| Original issue: | $175 million priced at 98.188 to yield 11% in July 2012
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| Previous add-on: | $20 million priced at 106.5 in June 2013
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| Total issue size: | $205 million
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