Owens & Minor talks $500 million eight-year notes to yield 4½%-4¾%; books close Wednesday

By Paul A. Harris

Portland, Ore., March 3 – Owens & Minor, Inc. talked its $500 million offering of eight-year senior notes (B2/B-/BB-) to yield 4½% to 4¾%, according to market sources.

Official talk comes tight to initial guidance in the high 4% to 5% area.

Books close at 2 p.m. ET on 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.

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