Nesco marketing $475 million second-lien notes during July 22 week

By Paul A. Harris

Portland, Ore., July 22 – Nesco Holdings I, Inc. and Investment Corp. IV began a roadshow on Monday for a $475 million offering of five-year senior secured second-lien notes, according to market sources.

The Rule 144A and Regulation S for life note are expected to price on Friday.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and Fifth Third Bank are the joint bookrunners.

The notes come with two years of call protection.

Proceeds, together with $200 million of equity and proceeds from bank debt, will be used to finance the business combination of Nesco Holdings I and Investment Corp. IV into Capital Investment Merger Sub 2, LLC, a subsidiary of Capital Investment Corp.

Nesco is a Fort Wayne, Ind.-based supplier of specialty equipment, parts, tools, accessories and services to the electric utility transmission and distribution, telecommunications and rail markets

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