Lansing Trade talks $175 million seven-year notes to yield 8¾%-9%

By Paul A. Harris

Portland, Ore., Feb. 4 - Lansing Trade Group LLC talked its $175 million offering of seven-year senior notes (B3/B+) to yield 8¾% to 9%, a market source said on Tuesday.

Order books close at 3 p.m. ET on Thursday.

Macquarie Capital has the books. Global Hunter Securities is the co-manager.

The Rule 144A for life notes come with three years of call protection and feature a 35% equity clawback.

Proceeds will be used to refinance debt, including a partial repayment of the company's ABL facility.

The prospective issuer is an independent commodity merchandising and handling company based in Overland Park, Kan.

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