Thermon starts roadshow for $200 million seven-year secured notes

By Paul A. Harris

St. Louis, April 19 - Thermon Industries, Inc. began a roadshow on Monday for its $200 million offering of seven-year senior secured notes, according to an informed source.

Jefferies & Co. is the bookrunner for the deal, which is being marketed via Rule 144A with registration rights.

KeyBanc Capital Markets is the joint lead manager. BMO Nesbitt Burns is the co-manager.

The notes, which are expected to receive credit ratings in the mid-to-high single-B range, come with four years of call protection.

Proceeds will be used to partly fund the acquisition of the company by Code Hennessy and to repay certain existing debt.

The roadshow wraps up on April 28.

Thermon Industries is a San Marcos, Texas-based industrial company that serves global infrastructure end-markets through its full line of heat tracing solutions. Its end markets include energy, chemical processing, power generation and industrial and commercial infrastructure.

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