Globo Mobile begins roadshow for $180 million five-year secured notes

By Paul Deckelman

New York, June 19 – Globo Mobile Inc. began a roadshow on Friday for a planned $180 million offering of five-year senior secured notes (anticipated ratings B2/B3), high-yield syndicate sources said Friday.

The sources said that the marketing campaign began in London and would include a breakfast there on Tuesday as well as a luncheon in New York on Thursday.

The expected bond issue, which would be offered for sale under Rule 144A and Regulation S without registration rights, would be brought to market by bookrunning manager Imperial Capital LLC, with ISM Capital LLP as international co-manager.

The notes would be non-callable for the first two years after issue and would be callable after that at par plus ¾ of the coupon, declining ratably every six months.

Before the details of the roadshow began circulating in the market, Delaware-registered Globo Mobile’s corporate parent – London-based Globo plc – announced that it would be conducting a series of investor calls in the United States and the United Kingdom, beginning Friday, to sound out the investors about the possible bond deal.

The company’s chief executive officer, Costis Papadimitrakopoulos, said that “following on our US expansion and the successful acquisitions of both Notify Technologies Inc. and the services operations of Sourcebits Inc., we are looking to accelerate our expansion through additional strategic acquisitions in both the U.S. and Europe. Our strong financial performance underpins our ability to access the high-yield debt market for future growth and acquisitions without diluting our shareholders.

“We feel that this is the right time to accelerate our growth and execution capabilities as we continue to successfully build a leadership position in the Mobile Enterprise space.”

Globo, an international provider of enterprise mobility management, mobile solutions and software as a service, said that proceeds from its note offering will primarily be used to fund further acquisitions that support the company’s international expansion strategy in its key growth markets.

The company also said that proceeds would be used to repay existing debt and for general corporate purposes.

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