New Issue: Harbinger sells $200 million eight-year notes at par to yield 7¾%

By Paul A. Harris

Portland, Ore., Jan. 15 - Harbinger Group Inc. priced a $200 million issue of eight-year senior notes (Caa2/CCC+/) at par to yield 7¾% on Wednesday, according to a syndicate source.

The yield printed at the tight end of the 7¾% to 8% yield talk.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies LLC were the joint bookrunners.

The New York-based diversified holding company plans to use the proceeds for general corporate purposes.

Issuer:	Harbinger Group Inc.
Amount:	$200 million
Maturity:	Jan. 15, 2022
Securities:	Senior notes
Bookrunners:	Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Jefferies LLC
Coupon:	7¾%
Price:	Par
Yield:	7¾%
Spread:	514 bps
First call:	Jan. 15, 2017 at 105.813
Equity clawback:	35% at 107.75 until Jan. 15, 2017
Change-of-control put:	101%
Trade date:	Jan. 15
Settlement date:	Jan. 21
Ratings:	Moody's: Caa2
	Standard & Poor's: CCC+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7¾% to 8%
Marketing:	Quick to market

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