Vertellus talks $325 million five-year notes with 9¼% to 9½% yield

By Paul A. Harris

St. Louis, Sept. 24 - Vertellus Specialties Inc. talked its $325 million offering of five-year senior secured notes (B1/B/) with a 9¼% to 9½% yield, an informed source said on Friday.

The books close Monday morning.

Credit Suisse and Jefferies & Co. are joint bookrunners for the Rule 144A for life offering.

The notes come with 2.5 years of call protection and a three-year equity clawback for 35%.

Proceeds will be used to refinance the company's first-lien and second-lien term loans.

Vertellus is an Indianapolis-based manufacturer of chemicals for the agricultural, nutritional, pharmaceutical, personal care and performance material markets.

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