IronGate to start roadshow Tuesday for $180 million five-year notes

By Paul A. Harris

Portland, Ore., June 3 - IronGate Energy Services, LLC plans to start a roadshow on Tuesday for its $180 million offering of five-year senior secured notes, according to an informed source.

The deal is set to price during the June 10 week.

Jefferies LLC is the bookrunner.

The notes will come to market as a Regulation D private placement, but they will be automatically exchanged into Rule 144A and Regulation S notes upon closing.

The notes become callable after two years at par plus 75% of the coupon and after three years at par plus 50% of the coupon.

Proceeds will be used to fund the leveraged buyout of Archer Rental Tubular Division from Archer Ltd. by Clearlake Capital Group.

IronGate is a provider of rental and tubular services to energy exploration and production operators.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.