LSB Industries talks $400 million eight-year notes to yield 6¾% area; pricing Thursday

By Paul A. Harris

Portland, Ore., July 24 - LSB Industries, Inc. talked its $400 million offering of eight-year senior notes (Ba3/B+) with a yield in the 6¾% area on Wednesday, according to a syndicate source.

Books close at 4:30 p.m. ET Wednesday, and the deal is set to price Thursday. The offering was also reported in an 8-K filing with the Securities and Exchange Commission.

Wells Fargo Securities LLC is the left bookrunner for the Rule 144A and Regulation S with registration rights offer. BofA Merrill Lynch and J.P. Morgan Securities LLC are the joint bookrunners. Sterne Agee is the co-manager.

The notes come with three years of call protection.

Proceeds will be used to repay the Oklahoma City-based diversified industrial company's secured term loan and for general corporate purposes.

LSB Industries is involved in the manufacturing and marketing of products in the chemical and climate control segments.

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