Heckmann talks $250 million six-year senior notes to yield 9¼%-9½%

By Paul A. Harris

Portland, Ore., April 3 - Heckmann Corp. talked its $250 million offering of six-year senior notes (Caa1/B-) to yield 9¼% to 9½%, a syndicate source said on Tuesday.

The books close at 10 a.m. ET on Wednesday, and the deal is set to price shortly thereafter.

Jefferies & Co. Inc. is the left bookrunner. Credit Suisse Securities (USA) LLC and Wells Fargo Securities LLC are joint bookrunners.

The Rule 144A with registration rights notes come with three years of call protection.

Proceeds, along with proceeds from a concurrent equity offering, will be used to finance the acquisition of Thermo Fluids Inc.

Heckmann is a Coraopolis, Pa.-based provider of total water solutions for the oil and gas exploration and production industry. In addition the company provides environmental services and waste recycling solutions.

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