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Hess Infrastructure talks $800 million 8.25-year notes at 5½%-5¾%; pricing Friday
By Paul A. Harris
Portland, Ore., Nov. 16 – Hess Infrastructure Partners LP talked its $800 million offering of 8.25-year senior notes (Ba2/BB) to yield 5½% to 5¾%, according to a market source.
Official talk comes wide of the 5¼% early guidance.
The deal is set to price on Friday.
J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and MUFG are the managers.
The notes come with 3.25 years of call protection.
Proceeds will be used to repay debt and fund a distribution to shareholders.
The prospective issuer is a provider of midstream crude oil and natural gas infrastructure, a division of New York-based Hess Corp.
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