New Issue: Oshkosh prices $250 million eight-year notes at par to yield 5 3/8%

By Paul A. Harris

Portland, Ore., Feb. 6 - Oshkosh Corp. priced a $250 million issue of eight-year senior notes (B1/BB+/) at par to yield 5 3/8% on Thursday, according to a market source.

The yield came at the tight end of yield talk in the 5½% area.

J.P. Morgan Securities LLC, BofA Merrill Lynch, RBS Securities Inc. and Wells Fargo Securities LLC were the joint bookrunners.

The Oshkosh, Wis.-based specialty vehicle and equipment company plans to use the proceeds to redeem its 8¼% notes due 2017.

Issuer:	Oshkosh Corp.
Amount:	$250 million
Maturity:	March 1, 2022
Securities:	Senior notes
Bookrunners:	J.P. Morgan Securities LLC, BofA Merrill Lynch, RBS Securities Inc., Wells Fargo Securities LLC
Co-managers:	Credit Agricole CIB, HSBC Securities, PNC Capital Markets, TD Securities, U.S. Bancorp Investments Inc.
Coupon:	5 3/8%
Price:	Par
Yield:	5 3/8%
Spread:	297 bps
First call:	March 1, 2017 at 104.031
Trade date:	Feb. 6
Settlement date:	Feb. 21
Ratings:	Moody's: B1
	Standard & Poor's: BB+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	5½% area
Marketing:	Quick to market

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