Rose Rock talks $350 million eight-year notes to yield in 5 5/8% area

By Paul A. Harris

Portland, Ore., June 26 – Rose Rock Midstream, LP talked its $350 million offering of eight-year senior notes (B1/B) to price with a yield in the 5 5/8% area, according to market sources.

Books were scheduled to close at 4:30 p.m. ET Thursday.

Deutsche Bank Securities Inc., Barclays and Wells Fargo Securities LLC are the joint bookrunners.

BBVA, Capital One South Coast, SunTrust Robinson Humphrey Inc., Barclays and Morgan Stanley & Co. LLC are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with three years of call protection.

The Tulsa, Okla.-based company plans to use the proceeds to repay revolver debt and for general partnership purposes.

Rose Rock Midstream owns, develops and operates midstream energy assets.

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