BBB Industries selling $240 million five-year secured notes, investor call Tuesday

By Paul A. Harris

Portland, Ore., July 13 – GC EOS Buyer, Inc., doing business as BBB Industries, set an investor conference call for 11:30 a.m. ET on Tuesday.

On offer is a $240 million amount of five-year senior secured notes which are expected to price late in the July 13 week.

UBS Securities LLC is the left lead bookrunner. BMO Capital Markets Corp. and Credit Suisse Securities (USA) LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon. A special call feature allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.

The notes also feature a two-year 40% equity clawback and a 101% poison put.

Credit ratings remain to be determined.

The Daphne, Ala.-based re-manufacturer of alternators and starters plans to use the proceeds to repay a funded bridge facility and fully repay the current ABL draw.

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