Vista Outdoor upsizes planned eight-year senior notes to $350 million; talk remains in 6% area

By Paul A. Harris

Portland, Ore., Aug. 6 – Vista Outdoor, Inc. upsized its offering of eight-year senior notes (Ba3/BB+) to $350 million from $300 million on Thursday, according to an informed source.

The increase notwithstanding, official yield talk remains in the 6% area.

Official talk comes at the tight end of the 6% to 6¼% initial guidance.

The deal is going well and playing to an order book that is two-times oversubscribed, a trader said.

Books close at 11 a.m. ET on Thursday, and the Rule 144A with registration rights deal, via bookrunner Morgan Stanley & Co. LLC, is set to price and allocate thereafter.

The notes come with three years of call protection.

The Clearfield, Utah-based outdoor sports and recreation merchandise company plans to use the proceeds to pay down its revolving credit facility and for general corporate purposes.

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