Zachry talks $250 million seven-year senior notes to yield 7½%-7¾%

By Paul A. Harris

Portland, Ore., Jan. 17 - Zachry Holdings, Inc. talked its $250 million offering of seven-year senior notes (B2/B+/) to yield 7½% to 7¾% on Thursday, according to a market source.

The books close 10 a.m. ET on Friday, and the deal is set to price thereafter.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with four years of call protection.

Proceeds will be used to repay a term loan related to Zachry's October acquisition of JV Industrial Cos.

Zachry is a San Antonio-based provider of engineering, procurement, construction, maintenance and turnaround/outage services primarily to the energy sector.

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