Global Brass & Copper to sell $375 million seven-year secured notes

By Paul A. Harris

Portland, Ore., May 16 - Global Brass & Copper Holdings Inc. plans to price a $375 million offering of seven-year senior secured notes during the week ahead, according to an informed source.

Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners.

The notes come with three years of call protection.

Proceeds will be used to refinance the company's existing term loan and pay a dividend.

The prospective issuer is a Schaumburg, Ill.-based converter, fabricator, distributor and processor of specialized copper and brass products.

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