Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SPL Logistics > News item |
SPL Logistics talks $425 million eight-year notes with 9% area yield
By Paul A. Harris
Portland, Ore., July 23 - SPL Logistics talked its $425 million offering of eight-year senior secured notes (B2/B+) with a yield in the 9% area on Monday, according to an informed source.
The books close at 11:30 a.m. ET on Tuesday, and the deal is set to price thereafter.
The issuing entities are SPL Logistics Escrow, LLC, which will be merged with and into Caterpillar Logistic Services LLC, and SPL Logistic Finance Corp.
UBS Securities LLC is the lead left bookrunner. Macquarie Capital (USA) Inc. is the joint bookrunner.
The Rule 144A and Regulation S for life notes come with four years of call protection.
Proceeds will be used to fund the acquisition of a 65% stake in SPL Logistics, a Peoria, Ill.-based service parts and logistics company, by Platinum Equity Capital Partners.
Caterpillar will retain a minority stake in the enterprise.
© 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.