BroadStreet talks $325 million eight-year notes to yield in 6% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., April 14 – BroadStreet Partners Inc. talked its $325 million offering of eight-year senior notes (Caa1/CCC+) to yield in the 6% area, according to market sources.

Official talk comes tighter than the 6¼% to 6½% initial guidance.

Books close at 1 p.m. ET on Wednesday.

Joint physical bookrunner RBC Capital Markets LLC will bill and deliver. BMO Capital Markets Corp. is also a joint physical bookrunner. BofA Securities Inc., Barclays, Scotia Capital (USA) Inc. and Truist Securities Inc. are joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection.

The Columbus, Ohio-based insurance brokerage plans to use the proceeds to repay its first-lien term loan B-1 and its second-lien term loan and for general corporate purposes.

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