Eco Material talks $500 million five-year secured notes at 8%-8¼%; pricing Wednesday

By Paul A. Harris

Portland, Ore., Jan. 26 – Eco Material Technologies Inc. talked its $500 million offering of five-year senior secured green notes (B2/B/B+) to yield 8% to 8¼%, according to market sources.

Official talk comes in line with initial guidance in the low-8% area.

Books close at 3 p.m. ET on Wednesday, and the deal is set to price thereafter.

Jefferies LLC, Deutsche Bank Securities Inc. and Nomura Securities International Inc. are the joint bookrunners.

Proceeds will be used to fund the acquisition of Boral Resources from Boral Ltd. and its combination with Green Cement, Inc.

The issuer, making its debut in the high-yield market with this offering, is a harvester, producer, marketer, and distributor of supplementary cementitious materials (SCMs) used in the production of concrete.

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