New Issue: Amsted Industries prices $250 million 10-year notes at par to yield 5 3/8%

By Paul A. Harris

Portland, Ore., Sept. 4 – Amsted Industries Inc. priced a $250 million issue of 10-year senior notes (Ba3/BB) at par to yield 5 3/8% on Thursday, according to a syndicate source.

The yield printed at the tight end of yield talk in the 5½% area.

Wells Fargo Securities LLC was the left bookrunner. BofA Merrill Lynch and Morgan Stanley & Co. LLC were the joint bookrunners.

Proceeds will be used for general corporate purposes.

Amsted is a Chicago-based manufacturer of products for the railroad, construction and building industries.

Issuer:	Amsted Industries Inc.
Amount:	$250 million
Maturity:	Sept. 15, 2024
Securities:	Senior notes
Left bookrunner:	Wells Fargo Securities, LLC
Joint bookrunners:	BofA Merrill Lynch, Morgan Stanley & Co. LLC
Co-managers:	Fifth Third Securities, Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc.
Coupon:	5 3/8%
Price:	Par
Yield:	5 3/8%
Spread:	293 bps
Call protection:	Five years
Trade date:	Sept. 4
Settlement date:	Sept. 9
Ratings:	Moody's: Ba3
	Standard & Poor's: BB
Distribution:	Rule 144A and Regulation S for life
Price talk:	5½% area
Marketing:	Quick-to-market

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