Rockcliff Energy to price $600 million eight-year notes on Tuesday; initial talk 6% area

By Paul A. Harris

Portland, Ore., Sept. 27 – Rockcliff Energy II LLC plans to price a $600 million offering of eight-year senior notes (expected ratings B3/B+/BB-) on Tuesday, according to market sources.

An investor call was scheduled for 1 p.m. ET on Monday.

The deal is in the market with initial guidance in the 6% area, a trader said.

Left active bookrunner RBC Capital Markets LLC will bill and deliver. J.P. Morgan Securities LLC and Wells Fargo Securities LLC are joint active bookrunners. CIBC World Markets Corp., Citigroup Global Markets Inc., KeyBanc Capital Markets Inc., MUFG, Truist Securities Inc., U.S. Bancorp Investments Inc., Citizens Capital Markets Inc., Fifth Third Securities Inc. and Mizuho Securities USA Inc. are joint bookrunners.

Capital One Securities Inc. and Comerica Securities Inc. are senior co-managers. Zions is a co-manager.

The Rule 144A and Regulation S for life notes come with three years of call protection.

The Houston-based natural gas development and production company plans to use the proceeds to repay debt and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.