Hi-Crush marketing $450 million eight-year senior notes at 8½% area

By Paul A. Harris

Portland, Ore., July 23 – Hi-Crush Partners LP expects to price a $450 million offering of eight-year senior notes during the July 23 week, according to market sources.

The deal is in the market with initial guidance in the 8½% area, a trader said.

J.P. Morgan Securities LLC is leading the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

The Houston-based provider of proppant and logistics solutions to the oil and gas industry plans to use the proceeds to refinance its term loan, as well as to fund the cash portion of the FB Industries Inc. acquisition, and for general partnership purposes.

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