Australia's Orionstone to sell $200 million seven-year notes next week

By Paul Deckelman

New York, Aug. 1 - Orionstone Pty Ltd. will sell $200 million seven-year senior secured notes, high-yield syndicate sources said Thursday.

The Australian provider of heavy equipment to that country's mining and construction industries will kick off the marketing for its deal on Monday with a conference call, a net-roadshow and investor lunches in New York and Boston.

The issue is expected to price next Friday.

Morgan Stanley & Co. Inc. will be the bookrunner for the Rule 144A for life deal.

The bonds will have three years of call protection.

The company plans to use the proceeds from the new deal to repay existing debt plus applicable fees.

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