Atkore talks $400 million 10-year senior notes at 4 3/8% area yield; pricing Tuesday

By Paul A. Harris

Portland, Ore., May 18 – Atkore Inc. talked its $400 million offering of 10-year senior notes (Ba3/BB-) to yield in the 4 3/8% area, according to market sources.

Official talk comes inside of initial guidance in the high 4% area.

The Rule 144A and Regulation S deal is expected to price on Tuesday.

J.P. Morgan Securities LLC is leading the deal.

The notes come with five years of call protection.

The Harvey, Ill.-based company plans to use the proceeds to repay bank debt.

Atkore manufactures electrical and mechanical products for raceways and other applications.

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