Michael Baker sets Thursday morning investor call for $125 million PIK toggle notes offering

By Paul A. Harris

Portland, Ore., April 2 - Michael Baker Holdings, LLC and Michael Baker Finance Corp. plan to participate in a conference call with investors beginning at 10 a.m. ET on Thursday, according to an informed source.

Under discussion will be the company's $125 million offering of five-year senior PIK toggle notes.

Jefferies LLC is the arranger.

The notes become callable after two years at 102, after three years at 101, and after four years at par.

Proceeds will be used to fund a dividend to DC Capital Partners. Integrated Mission Solutions, LLC, an affiliate of DC Capital, acquired Michael Baker in October 2013.

Michael Baker is a Moon Township, Pa.-based provider of high-end engineering, development, intelligence and technology solutions.

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