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Tacora Resources talks $150 million five-year secured notes to yield 8¼%-8½%; pricing Wednesday
By Paul A. Harris
Portland, Ore., May 5 – Tacora Resources Inc. talked its $150 million offering of five-year senior secured notes (B1/B) to yield 8¼% to 8½%, according to an informed source.
Books close at 1 p.m. ET on Wednesday, and the deal is set to price thereafter.
Jefferies is the bookrunner. Clarksons is the joint lead manager.
The Rule 144A and Regulation S for life notes come with two years of call protection.
The Montreal-based iron ore producer plans to use the proceeds to refinance senior secured debt.
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