TFS talks $175 million seven-year notes in 10%-10¾% yield context

By Paul A. Harris

Portland, Ore., May 16 - Australia's TFS Corp. talked its $175 million offering of seven-year senior secured notes (B3/B/) in a yield context of 10% to 10¾% on Monday, according to a market source.

The deal is expected to price on Tuesday.

Global Hunter Securities, Clarkson Capital Markets and Knight Securities are leading the deal.

The notes come with four years of call protection.

The Nedlands, Western Australia-based owner and operator of sandalwood plantations plans to use the proceeds to fund land acquisitions and for general corporate purposes.

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