Esco to start roadshow Thursday for $275 million seven-year senior notes in two tranches

By Paul A. Harris

St. Louis, Nov. 28 - Esco Corp. will start a roadshow on Thursday for its $275 million offering of seven-year senior notes (expected ratings B2/B) in two tranches, according to an informed source.

Pricing is set for late in the week of Dec. 4.

The Portland, Ore.-based issuer is offering tranches of fixed-rate notes, which come with four years of call protection, and floating-rate notes, which come with two years of call protection.

Goldman Sachs & Co. and Morgan Stanley are joint bookrunners for the notes, which are being marketed via Rule 144A.

Proceeds will be used to fund the leveraged buyout by its employee stock ownership plan and to pay a special dividend to common shareholders.

The prospective issuer is a group of companies that manufacture metal parts and components for industrial applications.

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