Springs Window talks $625 million eight-year notes to yield 6½% area; pricing Friday

By Abigail W. Adams

Portland, Me., Sept. 17 – SWF Escrow Issuer Corp. talked its $625 million offering of eight-year senior notes with a yield in the 6½% area, according to a market source.

Initial guidance had the deal coming to yield in the high 6% area.

Books are slated to close at noon ET on Friday.

The deal is backing the buyout of Springs Window Fashions by Clearlake Capital Group, LP.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Nomura Securities International Inc., Jefferies LLC and KKR Capital Markets LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

Proceeds plus a new term loan will be used to fund the acquisition of the Middleton, Wis.-based window covering company by Clearlake and pay off the first-lien and second-lien term loans.

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