Danka to start roadshow for $175 million seven-year notes on Wednesday or Thursday

By Paul A. Harris

St. Louis, June 10 - Danka Business Systems plc will start the roadshow Wednesday or Thursday for an offering of $175 million senior notes due 2010, according to Danka corporate treasurer Larry Schaad.

Bear Stearns & Co. will be the bookrunner for the Rule 144A deal, Schaad added.

Proceeds will be used to repay the company's credit facility and to redeem its zero-coupon senior subordinated notes due 2004, with a comparatively small portion of the proceeds going for general corporate purposes, Schaad said.

Pricing is expected late in the week of June 16 or early in the week of June 23.

The St. Petersburg, Fla.-based company provides commercial print solutions.

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