By Lisa Kerner
Charlotte, N.C., Oct. 11 - Minerals Technologies Inc. issued $75 million of senior notes in a private placement on Oct. 7, according to an 8-K filing with the Securities and Exchange Commission.
The notes were issued as follows:
• $30 million of 3.46% series A notes due Oct. 7, 2020; and
• $45 million of 4.13% series B notes due Oct. 7, 2023.
Proceeds were used to repay the company's $75 million of senior notes due Oct. 5, 2013.
The notes have a make-whole call option at Treasuries plus 50 basis points.
Under the note purchase agreement, the company may not permit, at any time, its consolidated debt to exceed 60% of its consolidated total capitalization.
Purchasers include New York Life Insurance Co.; New York Life Insurance and Annuity Corp.; New York Life Insurance and Annuity Corp. institutionally owned life insurance separate account (BOLI 30c); Forethought Life Insurance Co.; Prudential Retirement Insurance and Annuity Co.; Prudential Arizona Reinsurance Captive Co.; Physicians Mutual Insurance Co.; Prudential Insurance Co. of America; Prudential Retirement Insurance and Annuity Co.; United of Omaha Life Insurance Co.; and Great-West Life & Annuity Insurance Co.
The minerals processing company is based in Cararra, Queensland, Australia.
| Issuer: | Minerals Technologies Inc.
|
| Issue: | Senior notes
|
| Amount: | $75 million
|
| Call option: | Make-whole at Treasuries plus 50 bps
|
| Settlement date: | Oct. 7
|
| Distribution: | Private placement
|
| Purchasers: | New York Life Insurance Co.; New York Life Insurance and Annuity Corp.; New York Life Insurance and Annuity Corp. institutionally owned life insurance separate account (BOLI 30c); Forethought Life Insurance Co.; Prudential Retirement Insurance and Annuity Co.; Prudential Arizona Reinsurance Captive Co.; Physicians Mutual Insurance Co.; Prudential Insurance Co. of America; Prudential Retirement Insurance and Annuity Co.; United of Omaha Life Insurance Co.; and Great-West Life & Annuity Insurance Co.
|
|
|
| Series A notes
|
| Amount: | $30 million
|
| Coupon: | 3.46%
|
| Maturity: | Oct. 7, 2020
|
|
|
| Series B notes
|
| Amount: | $45 million
|
| Coupon | 4.13%
|
| Maturity: | Oct. 7, 2023
|
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