Jefferies Financial Group (JEF) is looking to raise roughly $600 million in the US high-yield bond market for Gulf Coast Ammonia, Bloomberg reported Friday, citing people close to the matter.
The proceeds will be used to refinance the specialty chemicals maker's existing debt of approximately $574 million, which was raised in January 2020 for the development of its Texas-based anhydrous ammonia plant, the report said.
A deal could be made in the coming two weeks, the report quoted the people as saying.
Representatives of Jefferies and Gulf Coast Ammonia didn't immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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