Clark Equipment talks $300 million five-year notes at 6½% area yield; pricing Thursday

By Paul A. Harris

Portland, Ore., May 21 – Clark Equipment Co. talked its $300 million offering of five-year senior secured notes (Ba3/BB+) to yield in the 6½% area, according to market sources.

Official talk comes on top of initial guidance, a trader said.

The deal is expected to price on Thursday.

J.P. Morgan Securities LLC is the lead.

The notes come with two years of call protection.

The Dunwoody, Ga.-based supplier of agricultural, construction and materials handling equipment plans to use the proceeds for general corporate purposes.

Clark Equipment is a wholly owned subsidiary of Hong Kong-based Doosan Bobcat Inc.

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