Hunt talks $635 million eight-year senior secured notes to yield 5¼%; pricing Wednesday

By Paul A. Harris

Portland, Ore., March 31 – Hunt Cos., Inc. talked its $635 million offering of eight-year senior secured notes (B2/BB-) to yield 5¼%, according to market sources.

Official talk comes in line with initial guidance in the low 5% area.

Books close at 2 p.m. ET on Wednesday, and the notes are set to price thereafter.

Jefferies LLC and J.P. Morgan Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection. A special call provision allows the issuer to redeem 10% of the notes annually at 103 during the non-call period.

The El Paso, Tex.-based diversified, family-owned holding company plans to use the proceeds to repay debt and for general corporate purposes.

Hunt Cos. invests in operating businesses, real estate assets and infrastructure assets.

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