Korn Ferry intends to price $400 million eight-year senior notes; early talk high 4%-5% area

By Abigail W. Adams

Portland, Me., Dec. 9 – Korn Ferry plans to price $400 million in eight-year senior notes (Ba3/BB) in the coming week with early talk in the high 4% to 5% area, according to a market source.

BofA Securities Inc. is lead for the Rule 144A and Regulation S offering.

The notes are non-callable for three years.

Proceeds will be used to repay the outstanding amount under the company’s existing senior secured revolving credit facility.

The company also intends to enter into a new $650 million five-year senior secured revolving credit facility.

Korn Ferry is a Los Angeles-based global organizational consulting firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.