Tempel Steel starts roadshow for $130 million five-year secured notes

By Paul A. Harris

Portland, Ore., July 20 - Tempel Steel Co. began a roadshow on Wednesday for a $130 million offering of five-year senior secured notes (expected ratings B3/B), according to an informed source.

The roadshow wraps up on July 28.

Jefferies & Co., Inc. is the bookrunner.

The Rule 144A for life notes become callable in 2.5 years at par plus 75% of the coupon.

Proceeds, together with a $30 million equity contribution from shareholders, will be used to refinance the company's existing credit facility.

Tempel Steel is a Chicago-based manufacturer of magnetic steel laminations used in the production of motors and transformers.

© 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.