American Residential to sell $150 million five-year notes this week

By Paul A. Harris

St. Louis, April 5 - American Residential Services LLC and ARS Finance, Inc. plan to price a $150 million offering of five-year senior secured second-lien notes this week, according to an informed source.

UBS Investment Bank is the left bookrunner for the Rule 144A and Regulation S for life offering. Jefferies & Co. is the joint bookrunner. William Blair is the co-manager.

The notes come with 2.5 years of call protection.

The announcement of the deal's credit ratings is pending.

Proceeds will be used to refinance the company's second-lien term loan and to repay a portion of its revolver.

The prospective issuer is a heating, air conditioning, ventilation and pluming services provider based in Memphis, Tenn.

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