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Australia's Midwest Vanadium talks $335 million seven-year secured notes with 11½%-11¾% yield
By Paul A. Harris
Portland, Ore., Feb. 8 - Australia's Midwest Vanadium Pty. Ltd. talked its $335 million offering of seven-year senior secured first-lien notes (B3/B-) with an 11½% to 11¾% yield on Tuesday, according to a market source.
The order books close at 11 a.m. ET on Wednesday.
J.P. Morgan Securities LLC has the books for the Rule 144A and Regulation S for life offering.
The notes come with four years of call protection.
Proceeds will be used to refinance debt, as well as to fund capital expenditures and for general corporate purposes.
The prospective issuer is a Perth, Australia-based vanadium producer.
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