Compucom launches $150 million six-hear holdco toggle notes

By Paul A. Harris

St. Louis, May 21 - CHR Intermediate Holding Corp., the holding company for Compucom Systems, Inc., will begin two days of marketing for its $150 million offering of six-year senior floating-rate toggle notes on Tuesday in New York, according to an informed source.

Marketing will continue on Wednesday in Boston.

Pricing is expected on either Wednesday or Thursday.

Banc of America Securities LLC is the left bookrunner for the Rule 144A for life notes. Citigroup is the joint bookrunner. Jefferies & Co. and PNC Capital Markets are the co-managers.

The notes become callable at par in three months.

In addition the notes feature two 50 basis point coupon step-ups after 15 and 27 months.

Credit ratings remain to be determined.

Proceeds will be used to fund a dividend.

The prospective issuer is the holding company and sole stockholder of Compucom Systems, a Dallas-based information technology services provider.

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