Tervita talks $250 million tap of 7 5/8% secured notes due 2021 at par to par ½; pricing Thursday

By Paul A. Harris

Portland, Ore., May 24 – Tervita Corp. talked a $250 million add-on to its 7 5/8% senior secured notes due Dec. 1, 2021 (B2/B) at par to par ½, according to a market source.

Official talk comes slightly rich to early guidance in the par area.

The Rule 144A and Regulation S offering is expected to price on Thursday.

Deutsche Bank Securities Inc. is leading the deal.

The notes become callable after Dec. 1, 2018.

The Calgary, Alta.-based environmental management company for the oil and gas industry plans to use the proceeds to fund the refinancing of Newalta's existing debt in connection with the acquisition of Newalta shares and the merger of Tervita and Newalta into an entity to be called Amalco.

The original $350 million issue priced at par in December 2016.

© 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.