OPI International starts roadshow for $125 million five-year notes

By Paul A. Harris

Portland, Ore., April 24 - OPI International began a roadshow on Tuesday for a $125 million offering of first-lien senior secured notes, according to market sources.

The deal, which is being led by bookrunner Global Hunter Securities, is set to price during the week of May 7.

The notes come with three years of call protection.

Credit ratings remain to be determined.

The Houston-based services provider to the offshore oil and gas industry plans to use the proceeds to help fund the acquisition of offshore construction vessels and refinance debt.

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