Minerals Technologies to price $400 million eight-year senior notes; initial talk 5¼% area

By Paul A. Harris

Portland, Ore., June 23 – Minerals Technologies Inc. is in the market with a $400 million offering of eight-year senior notes, according to market sources.

The deal is on a quick-to-market trajectory, expected to price Tuesday or Wednesday, they add.

Initial guidance is in the 5¼% area, according to a bond trader.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The New York-based company plans to use the proceeds to pay off its term loans and revolver, with the remainder of proceeds to be used for general corporate purposes.

Minerals Technologies is a resource- and technology-based company that develops and produces performance-enhancing minerals, mineral-based, and synthetic mineral products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.