MDC Partners talks $800 million notes at 6½% to 6¾%, pricing Friday

By Paul A. Harris

Portland, Ore., March 18 – MDC Partners Inc. talked its $800 million offering of eight-year senior notes (expected B3/confirmed B+) to yield 6½% to 6¾%, according to a market source.

Official talk comes on top of initial guidance, sources say.

The books were scheduled to close late Friday morning and the deal is set to price thereafter.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A for life and Regulation S offer.

The notes come with three years of call protection.

The New York-based marketing and communications network services provider plans to use the proceeds together with cash on hand and/or drawdowns on its amended and restated senior secured revolver to redeem all $735 million of its outstanding 6¾% senior notes due 2020.

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