American Rock Salt Raises $175M

American Rock Salt has sold $175 million of second lien senior secured notes in the 144a private placement market.

American Rock Salt has sold $175 million of second lien senior secured notes in the 144a private placement market, Reuters reports. The size of the transaction was initially planned at $200 million. The operating salt mine company appointed Morgan Stanley as the sole bookrunning manager for the transaction. The notes carry a coupon rate of 8.25%, and are due to mature on May 1, 2018.

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