Harsco starts roadshow for $500 million offering of eight-year notes

By Paul A. Harris

Portland, Ore., June 10 – Harsco Corp. started a roadshow on Monday in New York and New Jersey for a $500 million offering of eight-year senior notes, according to a syndicate source.

The roadshow continues on Tuesday in New York, with an investor lunch scheduled for 12:30 p.m. ET, then moves to Boston on Wednesday, with an investor lunch there at 12:30 p.m. ET.

Further details on the roadshow remain to be determined.

Goldman Sachs & Co. LLC is the left bookrunner for the Rule 144A and Regulation S for life offering. Citigroup Global Markets Inc., BofA Securities Inc., BMO Securities, HSBC Securities (USA) Inc., RBC Capital Markets LLC, U.S. Bancorp Investments Inc. and KeyBanc Capital Markets LLC are the joint bookrunners.

Fifth Third Bank, PNC Capital Markets LLC and ING Financial Markets LLC are the senior co-managers. Huntington Investment Co. and Santander Investment Securities Inc. are the co-managers.

The notes become callable after three years at par plus 50% of the coupon.

The Camp Hill, Pa.-based provider of diversified industrial services plans to use the proceeds, along with a draw on its revolving credit facility, to fund its acquisition of Clean Earth Inc. from Compass Group Diversified Holdings LLC.

Harsco focuses its services to the steel, aluminum, energy and railway sectors.

Clean Earth is a Hatboro, Pa.-based specialty waste processing company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.