j2 Global starts roadshow for $250 million eight-year senior notes

By Paul A. Harris

Portland, Ore., July 16 - j2 Global, Inc. started a roadshow on Monday for a $250 million offering of eight-year senior notes, according to an informed source.

The Rule 144A with registration rights notes are expected to price late in the present week.

Bank of America Merrill Lynch is the bookrunner.

The notes are callable with a Treasuries plus 50 basis points make-whole call during the first four years, after which they become callable at a premium. The notes feature a three-year 35% equity clawback and a 101% poison put.

Credit ratings remain to be determined.

Proceeds will be used for general corporate purposes, which may include acquisitions.

j2 Global is a Hollywood, Calif.-based provider of cloud services, consisting of online fax, virtual phone systems, hosted e-mail, e-mail marketing, online backup, customer relationship management, and bundled suites of these services.

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