Hi-Crush Partners LP announced that, subject to market conditions, it intends to offer US$450 million aggregate principal amount of its senior unsecured notes due 2026 in a private placement to eligible purchasers.
Hi-Crush intends to use the net proceeds from the offering to refinance its senior secured term loan credit facility, to fund the cash portion of the purchase price of its previously announced acquisition of FB Industries Inc. and for general partnership purposes. The securities to be offered have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws; and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and outside the United States pursuant to Regulation S.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/24072018/hi-crush-reveals-senior-notes-offering/