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InfraBuild starts roadshow for $350 million five-year secured notes; pricing expected Thursday
By Paul A. Harris
Portland, Ore., Nov. 6 – InfraBuild Australia Pty Ltd. began a roadshow on Monday for a $350 million offering of five-year senior secured notes (expected ratings B3/B+), according to market sources.
The whisper is 14¾% to 15%, according to a trader.
The roadshow is scheduled to run through Wednesday, and the deal is expected to price on Thursday.
The Rule 144A and Regulation S for life notes come with two years of call protection.
Jefferies is the sole bookrunner.
The Australia-based electric arc furnace manufacturer and scrap metal recycler plans to use the proceeds to redeem its senior secured notes due 2024.
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