Standard Industries to price $100 million tap of 4¾% notes due 2028 in Friday drive-by

By Paul A. Harris

Portland, Ore., Jan. 12 – Standard Industries Inc. plans to price a $100 million add-on to its 4¾% senior notes due Jan. 15, 2028 in a quick-to-market Friday transaction, a trader said.

Books were scheduled to close at mid-morning, the source said, and added that three holders of the existing 4¾% notes are believed to have spoken for most of the Friday tap.

BofA Merrill Lynch is leading the deal.

The notes feature a make-whole call at Treasuries plus 50 basis points until Jan. 15, 2023, then become callable at a premium.

The Parsippany, N.J.-based diversified holding company with interests in building materials, aggregates and related investment businesses priced the original $900 million issue at par on Dec. 11, 2017.

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