TFS to sell $250 million seven-year secured notes on Wednesday

By Paul A. Harris

Portland, Ore., July 20 – TFS Corp. plans to price a $250 million offering of seven-year senior secured notes (expected ratings B2/B+) in a quick-to-market Wednesday transaction, according to a market source.

J.P. Morgan Securities LLC is the bookrunner for the Rule 144A deal.

The notes come with three years of call protection.

The Nedlands, Australia-based sandalwood supplier plans to use the proceeds to redeem its 11% notes due 2018 and for general corporate purposes.

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