Published on 4/12/2017 in the Prospect News High Yield Daily.
New Issue: Colfax prices €350 million eight-year notes at par to yield 3¼%
By Paul A. Harris
Portland, Ore., April 12 – Colfax Corp. priced a €350 million issue of eight-year senior notes (Ba2/BB+) at par to yield 3¼% on Wednesday, according to a market source.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC were the joint global coordinators in a syndicate of banks that also includes BofA Merrill Lynch, HSBC Securities, Morgan Stanley & Co. LLC and RBC Capital Markets.
The Fulton, Md.-based manufacturer of gas- and fluid-handling and fabrication technology products plans to use the proceeds to repay $301.7 million under its revolving credit facility and certain of its bilateral credit agreements and for general corporate purposes.
| Issuer: | Colfax Corp.
|
| Amount: | €350 million
|
| Tenor: | Eight years
|
| Securities: | Senior notes
|
| Global coordinators: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC
|
| Bookrunners: | BofA Merrill Lynch, HSBC Securities, Morgan Stanley & Co. LLC, RBC Capital Markets
|
| Coupon: | 3¼%
|
| Price: | Par
|
| Yield: | 3¼%
|
| Call protection: | Three years
|
| Trade date: | April 12
|
| Settlement date: | April 19
|
| Ratings: | Moody's: Ba2
|
| S&P: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
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