Harland Clarke to sell $200 million more 9¼% notes due 2021 on Monday

By Paul A. Harris

Portland, Ore., July 28 – Harland Clarke Holdings Corp. plans to price a $200 million tack-on to its 9¼% senior notes due March 1, 2021 on Monday afternoon, trailing a late-morning conference call with investors, according to an informed source.

Credit Suisse Securities (USA) LLC and BofA Merrill Lynch are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after March 1, 2017 at 106.938 and feature a 101% poison put.

Proceeds will be used to fund a dividend to M&F Worldwide Corp., the parent of Harland Clarke Holdings, a San Antonio-based provider of payment, marketing and security services.

The original $540 million issue priced at par on Jan. 27, 2014.

The tack-on notes will be immediately fungible with the original notes.

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