Jefferies Finance talks $400 million seven-year notes at 7¼% area; pricing Thursday

By Paul A. Harris

Portland, Ore., July 20 – Jefferies Finance LLC talked its $400 million offering of seven-year senior notes (B1/B) to yield in the 7¼% area, according to a syndicate source.

Books close at 1 p.m. ET on Thursday, and the Rule 144A offering is set to price thereafter.

Jefferies LLC is the left bookrunner. Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are joint bookrunners.

The notes come with three years of call protection.

The co-issuer is JFIN Co-Issuer Corp.

Proceeds, along with proceeds from a concurrent $250 million term loan, will be used to repay an existing term loan and for general corporate purposes.

In connection with the offering, the company will draw $149.6 million of its Members’ undrawn equity capital commitments and increase its Members’ equity capital commitment by $300 million, resulting in a total equity commitment of $1.5 billion, the source added.

Jefferies is a New York-based commercial finance company that structures, underwrites and syndicates primarily senior secured loans to corporate borrowers, completing over $130 billion in arranged volume since 2004.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.