Maxum Petroleum starts roadshow for $250 million eight-year notes

By Paul A. Harris

Portland, Ore., Jan. 20 - Maxum Petroleum Operating Co. began a roadshow on Thursday for a $250 million offering of eight-year senior notes, according to an informed source.

The Rule 144A and Regulation S with registration rights deal is expected to price during the week ahead.

Credit Suisse, Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Goldman Sachs & Co. and Citigroup Global Markets Inc. are the joint bookrunners.

The notes come with four years of call protection, as well as a three-year 35% equity clawback and a 101% poison put.

Credit ratings in the low single B range are expected.

The Greenwich, Conn.-based marketer and logistics company for petroleum products will use the proceeds to repay its revolver and for general corporate purposes.

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