Wells Enterprises talks $235 million seven-year notes to yield 6¾%-7%

By Paul A. Harris

Portland, Ore., Jan. 14 - Wells Enterprises, Inc. talked its $235 million offering of seven-year senior secured notes (B2/B+) to yield 6¾% to 7%, an informed source said on Monday.

The deal is expected to price on Tuesday afternoon.

BMO Capital Markets Corp. and Wells Fargo Securities LLC are the joint bookrunners.

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

The Le Mars, Iowa-based ice cream maker plans to use the proceeds to refinance debt, as well as to fund a dividend and for general corporate purposes, including capital expenditures.

© 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.