LBC Tank sets Tuesday roadshow start for $350 million 10-year notes

By Paul A. Harris

Portland, Ore., April 29 - LBC Tank Terminals Holding Netherlands BV plans to start a roadshow on Tuesday for a $350 million offering of 10-year senior notes (expected ratings B3/B), according to a syndicate source.

The deal is set to price during the May 6 week.

RBC Capital Markets is the left bookrunner. BNP Paribas, Credit Agricole CIB, DNB Nor and ING are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with five years of call protection and feature a three-year 35% equity clawback and a 101% poison put.

Proceeds, together proceeds from a new term loan, will be used to repay the entire amount outstanding under the company's existing credit facilities.

The prospective issuer is one of the largest independent operators of bulk liquid storage terminals and the second largest independent chemical storage company in terms of global storage capacity.

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