LSB Industries to sell $175 million tap of 6¼% secured notes due 2028 in Thursday drive-by

By Paul A. Harris

Portland, Ore., March 3 – LSB Industries, Inc. plans to price a $175 million fungible add-on to its 6¼% senior secured notes due Oct. 15, 2028 (B2/B) in a Thursday drive-by following a conference call with investors, according to market sources.

Initial price talk is 99.5 to par, a trader said.

Jefferies LLC and Piper Sandler Co. are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes are call protected until Oct. 15, 2024.

The Oklahoma City-based industrial and agricultural chemicals producer plans to use the proceeds to pursue strategic acquisition opportunities, to fund organic growth and for general corporate purposes.

The original $500 million issue priced in September 2021.

The add-on notes will immediately become fungible with the original notes.

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