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Apergy starts roadshow for $300 million eight-year notes offering backing spinoff from Dover
By Paul A. Harris
Portland, Ore., April 16 – Apergy Corp. started a roadshow on Monday for a $300 million offering of eight-year senior notes (B1/B), according to a market source.
The Rule 144A with registration rights offering is expected to price on Friday.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho Securities USA Inc. and Wells Fargo Securities LLC are the joint bookrunners.
The notes come with three years of call protection.
Proceeds, together with the term loan and a draw on the revolver, will be used to fund the spinoff of the Woodlands, Texas-based provider of highly engineered technologies to the oil and gas industry from Dover Corp.
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