Oshkosh sets price talk for $500 million of seven-, 10-year notes

By Paul A. Harris

St. Louis, Feb. 25 - Oshkosh Corp. set price talk on Thursday for its $500 million offering of senior notes (B3/B-), according to an informed source.

The Oshkosh, Wis.-based special access equipment-maker talked its $200 million minimum tranche of seven-year notes to yield 8¼% to 8½%. The seven-year notes come with four years of call protection.

Meanwhile Oshkosh talked its $200 million minimum tranche of 10-year notes to yield 8½% to 8¾%. The 10-year notes come with five years of call protection.

Pricing is set for early Friday afternoon.

Bank of America Merrill Lynch, Goldman Sachs & Co. and J.P. Morgan Securities Inc. are joint bookrunners for the Rule 144A and Regulation S offering.

SunTrust Robinson Humphrey Inc. and Wells Fargo Securities are the senior co-managers. ABN Amro, BNP Paribas Securities Corp., Calyon Securities, PNC and TD Securities are the co-managers.

Proceeds will be used to repay bank debt.

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