Tervita starts roadshow for C$475 million equivalent of U.S. dollar-denominated secured notes

By Paul A. Harris

Portland, Ore., Dec. 2 – Tervita Corp. began a roadshow on Friday for a C$475 million equivalent offering of U.S. dollar-denominated senior secured notes, according to market sources.

The company seeks to raise about $350 million, a source said.

Early guidance is in the 8% area.

The Rule 144A and Regulation S deal is expected to price in the late part of the week ahead.

J.P. Morgan Securities LLC, Barclays and Deutsche Bank Securities Inc. are managing the sale.

The notes come with two years of call protection.

The Calgary, Alta.-based earth, water, waste and resource solutions provider plans to use the proceeds to finance its recently undertaken recapitalization.

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