Jack Cooper sets late-morning investor call for $150 million tap of its 9¼% notes

By Paul A. Harris

Portland, Ore., Oct. 24 - Jack Cooper Finance Co. plans to participate in an investor conference call at 11:30 a.m. ET on Thursday to discuss a proposed $150 million add-on to its 9¼% senior secured notes due 2020 (expected ratings B2/B-), according to an informed source.

The deal is set to price this afternoon.

Wells Fargo Securities LLC has the books for the Rule 144A and Regulation S with registration rights deal. Barclays is the co-manager.

The notes become callable on June 1, 2016 at 106.938.

Proceeds will be used to finance the purchase of the majority of the assets of Allied Systems Holdings Inc.

Jack Cooper is a light vehicle transporter is based in Kansas City, Mo.

The original $225 million issue priced at par on June 7, 2013.

The add-on notes will be fungible with the existing notes upon completion of the acquisition and the release of the proceeds from escrow.

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