By Paul A. Harris
Portland, Ore., Sept. 14 – Lendmark Financial Services LLC priced a $300 million issue of LFS Topco LLC five-year senior notes (B1/B) at par to yield 5 7/8% on Tuesday, according to market sources.
The yield printed at the tight end of yield talk in the 6% area and tighter than initial guidance in the low-to-mid 6% area.
Goldman Sachs & Co. LLC was the left bookrunner. Joint bookrunners were BMO Capital Markets Corp. and RBC Capital Markets LLC.
The Lawrenceville, Ga.-based financial services company plans to use the proceeds to pay off its senior subordinated credit facility, with the remainder to be used for general corporate purposes, including potential acquisitions.
| Issuer: | LFS Topco LLC
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| Amount: | $300 million
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| Maturity: | Oct. 15, 2026
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| Securities: | Senior notes
|
| Left bookrunner: | Goldman Sachs & Co. LLC
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| Joint bookrunners: | BMO Capital Markets Corp. and RBC Capital Markets LLC
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| Coupon: | 5 7/8%
|
| Price: | Par
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| Yield: | 5 7/8%
|
| First call: | Oct. 15, 2023 at 102.938
|
| Trade date: | Sept. 14
|
| Settlement date: | Sept. 21
|
| Ratings: | Moody's: B1
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 6% area
|
| Marketing: | Roadshow
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