LSB Industries to price $500 million seven-year secured notes on Wednesday; talk 6 3/8% area

By Paul A. Harris

Portland, Ore., Sept. 29 – LSB Industries, Inc. talked its $500 million offering of seven-year senior secured notes (B3/B-) to yield in the 6 3/8% area, tight to initial guidance in the mid-6% area, according to market sources.

Books close at 12:30 p.m. ET on Wednesday, and the deal is set to price thereafter.

Jefferies LLC is the left bookrunner. Goldman Sachs & Co. LLC and UBS Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The Oklahoma City-based industrial and agricultural chemicals producer plans to use the proceeds to redeem its 9 5/8% senior secured notes due 2023.

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