BroadStreet Partners on roadshow for $325 million eight-year notes; initial talk 6¼%-6½%

By Paul A. Harris

Portland, Ore., April 12 – BroadStreet Partners Inc. plans to price a $325 million offering of eight-year senior notes before the end of the April 12 week, according to market sources.

The Rule 144A and Regulation S deal, which was set to kick off on a Monday conference call with investors, is in the market with 6¼% to 6½% initial guidance, a bond trader said.

Joint physical bookrunner RBC Capital Markets LLC will bill and deliver. BMO Capital Markets Corp. is also a joint physical bookrunner. BofA Securities Inc., Barclays, Scotia Capital (USA) Inc. and Truist Securities Inc. are joint bookrunners.

The notes come with three years of call protection.

The Columbus, Ohio-based insurance brokerage plans to use the proceeds to repay its first-lien term loan B-1 and its second-lien term loan and for general corporate purposes.

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