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James Hardie to price $700 million two-part senior notes on Thursday
By Paul A. Harris
Portland, Ore., Nov. 28 – James Hardie Industries plc plans to price $700 million of senior notes (BB) in two tranches on Thursday, according to a market source.
The deal includes seven-year notes, which are being guided in the low 5% area, and 10-year notes, which are being guided to yield 25 basis points behind the seven-year notes.
BofA Merrill Lynch is leading the deal.
The Dublin-based building products manufacturer plans to use the proceeds for general corporate purposes, including capital expenditures and the redemption of existing notes.
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