Standard Industries to sell $500 million 10-year notes Tuesday; initial talk mid-to-high 4% area

By Paul A. Harris

Portland, Ore., June 16 – Standard Industries Inc. plans to price a $500 million offering of 10-year senior notes (Ba2/BBB-) in a Tuesday drive-by trailing a late-morning conference call with investors, according to market sources.

Initial guidance has the notes coming to yield in the mid-to-high 4% area, a trader said.

BofA Securities Inc., Deutsche Bank Securities Inc., BNP Paribas Securities Corp. and Goldman Sachs & Co. LLC are the joint bookrunners.

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

Proceeds will be used to redeem the $500 million of senior notes due 2024 outstanding.

The prospective issuer is a privately held global industrial company based in New York City.

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