Light Tower upsizes to $330 million, talks five-year notes to yield 8 1/8% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., July 16 – Light Tower Rentals, Inc. upsized its offering of five-year senior secured notes (B2/B) to $330 million from $300 million and talked them to price with a yield in the 8 1/8% area, an informed source said.

Books close at 1 p.m. ET Wednesday, and the deal is set to price shortly after that.

Jefferies LLC is the left bookrunner. RBC Capital Markets is the joint bookrunner.

The Rule 144A and Regulation S for life notes come with two years of call protection.

The Odessa, Texas-based provider of oilfield equipment and services plans to use the proceeds to refinance debt and to fund a distribution.

© 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.