Mark Andy talks $135 million five-year notes at 9½% area at par, allocating Thursday

By Paul A. Harris

Portland, Ore., June 13 – Mark Andy talked its $135 million offering of five-year senior secured notes at 9½% plus or minus 1/8% at par, according to an informed source.

Along with price talk came changes to the debt incurrence and restricted payments covenants.

Books close at 4 p.m. ET on Wednesday, and the deal, which comes with a Section 4(2) format without registration rights, is set to allocate on Thursday morning.

William Blair is the placement agent.

The notes become callable after two years at par plus 75% of the coupon.

The issuing entity will be MAI Holdings Inc., which does business as Mark Andy.

The Chesterfield, Mo.-based provider of specialized solutions for the packaging and label industry plans to use the proceeds to refinance debt.

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