Jane Street tightens talk on $500 million eight-year secured notes to 4½%-4 5/8%; pricing Tuesday

By Paul A. Harris

Portland, Ore., Nov. 2 – Jane Street Group, LLC and JSG Finance, Inc. tightened price talk on their $500 million offering of eight-year senior secured notes (Ba2/BB-), according to market sources.

Revised talk has the deal coming to yield 4½% to 4 5/8%, versus earlier official talk in the 4¾% area. Initial guidance was in the high 4% area.

The deal is set to price on Tuesday.

J.P. Morgan Securities LLC, Barclays, BofA Securities Inc. and Morgan Stanley & Co. LLC are the joint bookrunners.

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

The New York-based financial services provider plans to use the proceeds for general corporate purposes.

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