Moog talks $250 million eight-year senior notes to yield 5¼%-5½%; pricing Tuesday

By Paul A. Harris

Portland, Ore., Nov. 18 – Moog Inc. talked a $250 million offering of eight-year senior notes (Ba3/BB) to yield 5¼% to 5½%, according to a market source.

Books close at 1:15 p.m. ET on Tuesday, and the deal is set to price this afternoon.

J.P. Morgan Securities LLC, BofA Merrill Lynch and HSBC are the joint bookrunners for the Rule 144A and Regulation S offering.

Wells Fargo Securities LLC, RBS Securities Inc., MUFG, U.S. Bancorp Investments Inc., Williams Capital Group LP, Fifth Third Bank, PNC Capital Markets and RBC Capital Markets are the co-managers.

The notes come with three years of call protection.

The East Aurora, N.Y.-based designer, manufacturer and integrator of precision control components and systems plans to use the proceeds to pay down bank debt.

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