Moog to price $400 million eight-year notes in Thursday drive-by; initial talk 4½%-4¾% area

By Paul A. Harris

Portland, Ore., Dec. 5 – Moog Inc. plans to price a $400 million offering of eight-year senior notes in a Thursday drive-by, according to market sources.

Initial guidance has the Rule 144A and Regulation S deal coming to yield in the 4½% to 4¾% area, a trader said.

J.P. Morgan Securities LLC is leading the offering.

The notes come with three years of call protection.

The East Aurora, N.Y.-based manufacturer of hydraulic motion components plans to use the proceeds to redeem its $300 million of outstanding 5¼% senior notes due 2022 and pay down its senior credit facility.

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