New Issue: Roofing Supply prices $225 million 8 5/8% seven-year notes at par

By Paul A. Harris

St. Louis, Nov. 8 - Roofing Supply Group, LLC and Roofing Supply Finance, Inc. priced a $225 million issue of seven-year senior secured notes (B2/B+/) at par to yield 8 5/8% on Monday, according to a market source.

The yield printed at the tight end of the 8¾% area price talk.

Deutsche Bank Securities Inc. was the left bookrunner. Goldman Sachs & Co and Jefferies & Co. were the joint bookrunners.

The Dallas-based wholesale distributor of roofing supplies will use the proceeds to repay debt.

Issuers:	Roofing Supply Group, LLC and Roofing Supply Finance, Inc.
Amount:	$225 million
Maturity:	Dec. 1, 2017
Securities:	Senior secured notes
Left bookrunner:	Deutsche Bank Securities Inc.
Joint bookrunners:	Goldman Sachs & Co., Jefferies & Co.
Coupon:	8 5/8%
Price:	Par
Yield:	8 5/8%
Spread:	686 bps
Call protection:	Callable on Dec. 1, 2013 at 106.469, 104.313, 102.156, par on and after Dec. 1, 2016
Special call:	Up to 10% of the issue may be called annually at 103 during the non-call period
Equity clawback:	35% at 108.625 until Dec. 1, 2013
Trade date:	Nov. 8
Settlement date:	Nov. 17
Ratings:	Moody's: B2
	Standard & Poor's: B+
Distribution:	Rule 144A for life
Price talk:	8¾% area
Marketing:	Roadshow

© 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.