By Paul A. Harris
Portland, Ore., Jan. 12 – Standard Industries Inc. priced a $100 million add-on to its 4¾% senior notes due Jan. 15, 2028 at par in a quick-to-market Friday transaction, according to market sources.
BofA Merrill Lynch managed the sale.
The company originally priced $900 million of the notes on Dec. 11.
Three holders of the existing 4¾% notes are believed to have spoken for most of the Friday tap, a trader said.
The issuer is a Parsippany, N.J.-based diversified holding company with interests in building materials, aggregates and related investment businesses.
| Issuer: | Standard Industries Inc.
|
| Amount; | $100 million
|
| Maturity: | Jan. 15, 2028
|
| Security description: | Add-on to 4¾% senior notes due Jan. 15, 2028
|
| Bookrunner: | BofA Merrill Lynch
|
| Coupon: | 4¾%
|
| Price: | Par
|
| Call protection: | Make-whole call at Treasuries plus 50 bps until Jan. 15, 2023, then callable at a premium
|
| Trade date: | Jan. 12
|
| Settlement date: | Jan. 18
|
| Marketing: | Quick to market
|
| Original issue: | $900 million priced at par on Dec. 11, 2017
|
| Total issue size: | $1 billion
|
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