Published on 12/5/2017 in the Prospect News High Yield Daily.
New Issue: Oxford Finance prices $300 million 6 3/8% five-year notes at par
By Paul A. Harris
Portland, Ore., Dec. 5 – Oxford Finance priced a $300 million issue of five-year senior notes (Ba3/B+) at par to yield 6 3/8% on Tuesday, according to a market source.
J.P. Morgan Securities LLC and Barclays were the leads.
The Alexandria, Va.-based specialty finance company plans to use the proceeds to fund a dividend and repay bank debt.
Issuer: | Oxford Finance
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Amount: | $300 million
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Tenor: | Five years
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Securities: | Senior notes
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Managers: | J.P. Morgan Securities LLC, Barclays
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Coupon: | 6 3/8%
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Price: | Par
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Yield: | 6 3/8%
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Call protection: | Two years
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Trade date: | Dec. 5
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Ratings: | Moody's: Ba3
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| S&P: B+
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Distribution: | Rule 144A only
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Marketing: | Roadshow
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