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Brake Bros. to start roadshow Monday in London for £275 million 5.5-year PIK loans/notes
By Paul A. Harris
St. Louis, Sept. 21 - Brake Bros. plc will start a roadshow on Monday for a £275 million offering of 5.5-year PIK loans/notes, according to a market source.
Initially the deal will be distributed as a loan but will subsequently be offered in the form of notes via a repackaging, details of which are pending, the source added.
Pricing is expected late next week.
JP Morgan, Credit Suisse and Deutsche Bank Securities are joint bookrunners.
Proceeds will be used to fund a dividend and make a pension deficit payment.
Brake Bros. is a food supplier and distributor with headquarters in Ashford, England.
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