Innovation Ventures eyes new five-year notes for debt refinancing

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Aug. 5 – Innovation Ventures, LLC announced in a Friday press release that it intends to commence an offering of new unsecured notes.

In addition the company is putting place a new $525 million senior secured credit facility that launched on Thursday via arrangers BofA Merrill Lynch and KeyBanc Capital Markets LLC.

A portion of the proceeds from the notes and credit facility will be used to repurchase any and all of the company’s outstanding 9˝% senior secured notes due 2019 via a tender and/or redemption, including call premiums, and to redeem certain equity interests of certain owners.

The prospective issuer is a Farmington Hills, Mich.-based producer of 5-hour Energy, a liquid energy shot.

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