Road King prices high-yield bond in line with guidance

The company's forthcoming IPO plays a key role in the pricing of the $350 million deal.

Road King priced a dual-tranche senior Reg-S bond on Friday, closing at 225bp over three-month Libor for the $100 million upsized to $150 million five-year non-call-one FRN, and at par with a yield of 7.625% for the $200 million seven-year non-call-four fixed-rate note. Agencies rated both transactions BBBa2.

The deal was managed by JPMorgan and DBS.

Demand reached $546 million on the FRN, equivalent to an oversubscription of 3.6 times. 88% of the bonds sold...

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