Gibraltar Industries moves up timing, talks $210 million eight-year notes with 6½% area yield

By Paul A. Harris

Portland, Ore., Jan. 17 - Gibraltar Industries, Inc. talked its $210 million offering of eight-year senior subordinated notes (B2/BB-/) with a yield in the 6½% area on Thursday, according to a market source.

Timing on the deal was moved ahead. Books will close at 12:30 p.m. ET on Friday, except for Boston accounts, and the deal is set to price Friday afternoon. Previously the roadshow had been expected to end on Jan. 23.

J.P. Morgan Securities LLC and KeyBanc Capital Markets are the joint bookrunners.

HSBC Securities (USA) Inc. and RBS Securities Inc. are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection.

Proceeds will be used to repurchase all of the company's outstanding 8% senior subordinated notes due 2015.

Gibraltar Industries is a Buffalo, N.Y.-based manufacturer and distributor of building products.

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