Interface talks $300 million eight-year notes at 5 5/8% area yield; pricing Thursday

By Paul A. Harris

Portland, Ore., Nov. 12 – Interface Inc. talked its $300 million offering of eight-year non-call three-year senior notes (B1/B+) to yield in the 5 5/8% area, according to market sources.

Official talk comes tight to initial guidance in the high 5% area.

Books close at noon ET on Thursday, and the deal is set to price thereafter.

BofA Securities Inc., Truist Securities Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC and Regions Securities LLC are joint bookrunners for the Rule 144A and Regulation S for life offering.

TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Barclays and Synovus are co-managers.

The notes carry a poison put of 101 and an equity clawback for 35% of the notes for the first three years.

Proceeds will be used to repay certain term loans and other debt under the company’s existing credit facility and for general corporate purposes.

Interface is an Atlanta-based commercial flooring company.

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