Owens & Minor sets roadshow for $500 million eight-year notes; initial talk high 4% to 5% area

By Paul A. Harris

Portland, Ore., March 2 – Owens & Minor, Inc. began a brief roadshow on Tuesday for a $500 million offering of eight-year senior notes (expected ratings B2/B+/BB-), according to market sources.

Initial talk has the notes coming to yield in the high 4% to 5% area, a trader said.

The roadshow is scheduled to run through Wednesday.

BofA Securities Inc. is the left bookrunner. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Regions Securities LLC, Capital One Securities Inc., Citizens Capital Markets Inc. and KKR Capital Markets LLC are the joint bookrunners.

The 144A for life notes become callable after three years at par plus 50% of the coupon.

The Richmond, Va.-based health care logistics company plans to use the proceeds plus borrowings under its new revolver and its amended securitization facility to repay its term loan B and existing revolver, with any remaining proceeds to be used for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.