New Issue: Tervita prices $360 million five-year notes at par to yield 7 5/8%

By Paul A. Harris

Portland, Ore., Dec. 7 – Tervita Corp. priced a $360 million issue of five-year senior secured notes (B2) at par to yield 7 5/8% on Wednesday, according to a market source.

J.P. Morgan Securities LLC, Barclays and Deutsche Bank Securities Inc. managed the sale.

The Calgary, Alta.-based earth, water, waste and resource solutions provider plans to use the proceeds to finance its recently undertaken recapitalization.

Issuer:	Tervita Corp.
Amount:	$360 million
Maturity:	Dec. 1, 2021
Securities:	Senior secured notes
Bookrunners:	J.P. Morgan Securities LLC, Barclays, Deutsche Bank Securities Inc.
Coupon:	7 5/8%
Price:	Par
Yield:	7 5/8%
Call protection:	Two years
Trade date:	Dec. 7
Settlement date:	Dec. 12
Rating:	Moody's: B2
Distribution:	Rule 144A and Regulation S
Marketing:	Roadshow

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