New Issue: Jack Cooper Transport prices $122.5 million 12¾% five-year notes at 99.079 to yield 13%

By Paul A. Harris

St. Louis, Nov. 24 - Jack Cooper Transport priced a $122.5 million issue of non-rated 12¾% five-year senior secured notes at 99.079 to yield 13% on Nov. 22, according to market sources.

Imperial Capital and Global Hunter Securities were the joint bookrunners.

The Kansas City, Mo.-based vehicle transportation services company will use the proceeds to refinance debt and fund an acquisition.

Issuer:	Jack Cooper Holdings/Jack Cooper Transport
Securities:	Senior secured notes
Amount:	$122.5 million
Proceeds:	$121.37 million
Maturity:	Dec. 15, 2015
Coupon:	12¾%
Price:	99.079
Yield:	13%
Spread:	1,154 bps
Call protection:	Three years
Equity clawback:	For 35% at 112.75 until Dec. 15, 2013
Bookrunners:	Imperial Capital, Global Hunter Securities
Trade date:	Nov. 22
Settlement date:	Nov. 29
Ratings:	Not rated

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