Memorial roadshows $300 million eight-year notes; pricing Wednesday

By Paul A. Harris

Portland, Ore., June 23 – Memorial Resource Development Corp. began a roadshow on Monday in New York and New Jersey for a $300 million offering of eight-year senior notes (Caa1/B-), according to a syndicate source.

A global investor call is scheduled for 12:30 p.m. ET on Monday.

The roadshow continues in the same cities on Tuesday and moves to Boston on Wednesday.

The deal is also expected to price on Wednesday.

Citigroup Global Markets Inc., BofA Merrill Lynch, Barclays, BMO Capital Markets, J.P. Morgan Securities LLC, RBC Capital Markets and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with three years of call protection and feature a 35% equity clawback.

The Houston-based upstream master limited partnership plans to use the proceeds to repay bank debt.

© 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.