Constellation Enterprises offers $130 million five-year secured notes

By Paul A. Harris

Portland, Ore., Jan. 14 - Constellation Enterprises will begin a roadshow on Tuesday for a $130 million offering of five-year first-priority senior secured notes, according to an informed source.

The offering is expected to price before the end of the Jan. 17 week.

Credit Suisse Securities is the bookrunner for the Rule 144A for life offering.

The notes come with 2.5 years of call protection, as well as a three-year 35% equity clawback and a 101% poison put.

Mid single B credit ratings are expected.

Proceeds will be used to refinance the company's existing ABL revolver and term loans.

Constellation Enterprises is a specialty manufacturer of engineered metal products.

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