Valmont Industries $150 million 10-year notes talked 7%-7¼%, to price Thursday

By Paul A. Harris

St. Louis, April 28 - Price talk of 7% to 7¼% emerged Wednesday on Valmont Industries Inc.'s proposed $150 million offering of 10-year senior subordinated notes (Ba3/B+), a syndicate source said.

The deal is expected to price on Thursday.

Credit Suisse First Boston is the bookrunner for the Rule 144A offering. Banc of America Securities, BNY Securities and Wachovia Securities are co-managers.

The notes come with five years of call protection.

Proceeds will be used to fund the acquisition of Newmark International as well as to repay debt.

The company is an Omaha, Neb.-based manufacturer of engineered support structures for irrigation equipment and a provider of coating services.

© 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.