Consolidated Energy to sell $750 million equivalent two-part notes in dollars and euros

By Paul A. Harris

Portland, Ore., Sept. 27 – Consolidated Energy took the wrapper off of a $750 million equivalent two-part offering of seven-year senior notes (expected ratings B3/B+) on Monday.

The offering includes dollar-denominated notes with initial guidance in the high-5% area and euro-denominated notes with initial guidance in the high-4% area.

Tranche sizes remain to be determined.

The deal was scheduled to kick off on a Monday conference call with investors, with pricing expected on Wednesday.

Joint bookrunner Morgan Stanley & Co. LLC will bill and deliver. J.P. Morgan Securities LLC is also a joint bookrunner.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

The issuing entity is Consolidated Energy Finance SA.

The Medford, N.Y.-based retail fuel oil supplier plans to use the proceeds to repay debt.

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