Zekelman Industries to price $425 million seven-year notes on Tuesday

By Paul A. Harris

Portland, Ore., June 6 – Zekelman Industries, Inc. plans to price a $425 million offering of seven-year senior secured notes (Caa2/B) on Tuesday, according to an informed source.

The deal was scheduled to roll out on a mid-morning investor conference call on Monday.

Goldman Sachs & Co. is the left bookrunner for the Rule 144A for life and Regulation S notes offering. J.P. Morgan Securities LLC is the joint bookrunner.

The notes come with three years of call protection.

The Chicago-based company plans to use the proceeds, together with its term loan and cash on hand, to take out all of its outstanding 2018 notes and for general corporate purposes and working capital purposes.

Zekelman Industries, formerly known as JMC Steel, manufactures industrial steel pipe and tubular products.

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