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Suburban Propane $150 million 10-year notes talked to yield 7%-7¼%, to price Thursday
By Paul A. Harris
St. Louis, Dec. 17 - Suburban Propane Partners LP/Suburban Energy Finance Corp.'s proposed $150 million of 10-year senior notes (B1) are talked to yield 7% to 7¼%, a source close to the deal said. Pricing is expected late Thursday afternoon.
Wachovia Securities and Goldman Sachs & Co. are joint bookrunners on the Rule 144A deal.
The notes will come with five years of call protection.
The company plans to use proceeds to help fund the acquisition of Agway Energy Products LLC, Agway Energy Services Inc., and Agway Energy Services PA Inc.
Suburban Propane is a Whippany, N.J., propane supplier.
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