Beal Financial to start roadshow mid-week for $500 million 10-year notes

By Paul A. Harris

St. Louis, Feb. 27 - Beal Financial Corp. is set to begin a roadshow mid-week during the week of March 1 for a $500 million offering of 10-year senior secured notes (B1/BB-), according to an informed source.

Friedman Billings Ramsey will run the books on the Rule 144A offering. Howe Barnes will be the co-manager.

The notes will be callable at 105 in 2007, with the call decreasing by 100 basis points per year thereafter.

The notes will be secured by a first priority perfected lien on all capital stock of the subsidiary banks.

Proceeds will be used to fund growth and for general corporate purposes.

The issuer is a closely held Dallas-based bank.

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