Unifrax talks $205 million six-year notes to yield 7½% to 7¾%

By Paul A. Harris

Portland, Ore., Jan. 29 - Unifrax I LLC talked a downsized $205 million offering of six-year senior notes (Caa1/B-) to yield 7½% to 7¾%, a market source said on Tuesday.

The deal, which has been downsized from $250 million, is expected to price on Wednesday.

Goldman Sachs & Co., Wells Fargo Securities LLC and KeyBanc Capital Markets are the joint bookrunners.

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

The Niagara Falls, N.Y.-based supplier of high-temperature insulation products plans to use the proceeds to repay debt and fund an acquisition.

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