iPayment to start roadshow next week for $280 million eight-year senior subordinated notes

By Paul A. Harris

St. Louis, April 19 - iPayment Inc. will start a roadshow early next week for its $280 million offering of eight-year senior subordinated notes (Caa1/CCC+), according to a market source.

Pricing is expected in the early to middle part of the May 1 week.

Banc of America Securities LLC has the books for the Rule 144A with registration rights offering. JP Morgan is the co-manager.

The notes come with four years of call protection.

Proceeds will be used to partially fund management's acquisition of the company.

Nashville, Tenn.-based iPayment is a leading provider of credit and debit card-based payment processing services focused on small merchants across the United States.

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