Brand Energy to sell $550 million senior notes before year-end

By Paul A. Harris

Portland, Ore., Oct. 2 - Brand Energy & Infrastructure Services Inc. is expected to sell $550 million of senior notes before the end of the year, according to market sources.

Morgan Stanley & Co. LLC held a conference call with investors on Wednesday to discuss the syndication of the $550 million senior unsecured bridge loan backing the deal.

Proceeds will be used to help fund the acquisition of Brand Energy by Clayton, Dubilier & Rice from First Reserve, which is expected to close by the end of the year.

The $1.7 billion of debt financing for the acquisition will also include new bank debt.

In addition to Morgan Stanley, Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Investment Bank are also party to the committed financing.

Brand Energy is an Atlanta-based provider of specialized industrial services to the energy and infrastructure sectors.

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