Sterigenics talks $475 million seven-year notes to yield in 8% area

By Paul A. Harris

Portland, Ore., March 10 - STHI Holding Corp., the indirect parent of Sterigenics International, Inc., talked its $475 million offering of seven-year senior secured second-lien notes (B3/B-) with a yield in the 8% area on Thursday, according to a market source.

The Rule 144A and Regulation S for life offering is expected to price on Friday.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, UBS Investment Bank and Morgan Stanley & Co. Inc. are the joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to fund the purchase of Sterigenics by GTCR LLC from Silverfleet Capital and PPM America Capital Partners.

Sterigenics is an Oak Brook, Ill.-based contract sterilization and ionization services provider.

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