TransMontaigne talks $300 million eight-year notes to yield 6%-6¼%; books close Wednesday

By Paul A. Harris

Portland, Ore., Feb. 6 – TransMontaigne Partners LP and Finance-Co. talked a $300 million offering of eight-year senior notes (B2/BB-/BB) to yield 6¼% to 6½%, according to market sources.

Books are scheduled to close at 1 p.m. ET on Wednesday.

Joint bookrunner RBC Capital Markets LLC will bill and deliver for the public offering. BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, MUFG and Wells Fargo Securities LLC are also joint bookrunners.

The notes become callable after three years at par plus 75% of the coupon.

The Denver-based refined petroleum products marketing and distribution company plans to use the proceeds to repay debt and for general partnership purposes.

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