Headwaters talks $150 million five-year notes to yield 7¼%-7½%, pricing expected Thursday

By Paul A. Harris

Portland, Ore., Dec. 5 - Headwaters Inc. talked its $150 million offering of five-year senior notes to yield 7¼% to 7½%, according to a market source.

The deal is expected to price Thursday.

Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are leading the Rule 144A and Regulation S deal.

The notes come with two years of call protection.

The South Jordan, Utah-based construction materials and services provider plans to use the proceeds to acquire an 80% equity interest in the business of Roof Tile, Inc., with any additional proceeds to fund future acquisitions and for general corporate purposes, including capital expenditures and debt repayment.

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