AmeriCast $100 million eight-year notes talked at 11%, to price Thursday

By Paul A. Harris

St. Louis, Nov. 14 - AmeriCast Technologies, Inc. talked its $100 million offering of eight-year senior notes (B3/B-) at 11%, with a par issue price, on Tuesday, according to an informed source.

The books close at 4 p.m. ET Wednesday, with pricing expected on Thursday afternoon.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S offering. CIBC World Markets is the co-manager.

The notes will be callable with a make-whole call for the first four years, after which they will become callable at a premium. They will also contain a three-year 35% equity clawback.

Proceeds, together with an indirect equity contribution through the company's parent by affiliates of Castle Harlan Partners IV, LP, members of management and Bradken Operations Pty. Ltd., will be used to fund the purchase of all common stock, repay existing debt and for general corporate purposes.

AmeriCast is an Atchison, Kan.-based designer and manufacturer of large, highly engineered steel and iron castings. The company supplies industry segments including mining and heavy construction, locomotive rail, transit rail, energy and military.

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