Liz Claiborne starts roadshow for $200 million eight-year notes

By Paul A. Harris

Portland, Ore., March 28 - Liz Claiborne, Inc. began a roadshow on Monday for a $200 million offering of eight-year senior secured notes (expected ratings B2/B-/), according to an informed source.

The deal is set to price late in the March 28 week.

Merrill Lynch, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with three years of call protection and feature a 101% poison put.

The New York-based designer and marketer of apparel and accessories plans to use the proceeds to fund the tender offer for its euro-denominated notes due in 2013 and for general corporate purposes.

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