Husky Injection whispers $750 million eight-year notes at 7¼% to 7½%

By Paul A. Harris

Portland, Ore., March 9 – Husky Injection Molding Systems is in the market with a $750 million offering of eight-year senior notes (Caa2/CCC+) being whispered at 7¼% to 7½%, a trader said on Friday.

The deal will help fund the leveraged buyout of the company by Platinum Equity from Berkshire Partners and Omers Private Equity and is expected to price on March 16, the source added.

BofA Merrill Lynch is leading the note offering.

Financing for the buyout also includes a $2 billion term loan via Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA, Barclays and BMO Capital Markets.

The acquisition, valued at $3.85 billion, is expected in the second quarter of 2018.

The issuing entity will be special purpose vehicle Titan Acquisition Ltd.

Husky is a Bolton, Ont.-based supplier of injection molding equipment and services to the plastics industry.

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