Vector Group starts roadshow for $325 million eight-year notes

By Paul A. Harris

Portland, Ore., Oct. 24 – Vector Group Ltd. started a roadshow on Wednesday in New York for a $325 million offering of eight-year senior notes, according to an informed source.

The roadshow continues in New York on Thursday, travels to Boston on Friday and to Los Angeles on Monday. Further details on the roadshow are pending.

An investor conference call is scheduled to begin at 12:30 p.m. ET on Thursday.

The Rule 144A and Regulation S for life deal is set to price early in the Oct. 29 week.

Jefferies LLC is the bookrunner.

The notes become callable after three years at par plus 50% of the coupon.

The Miami, Fla.-based holding company plans to use the proceeds to repay its convertible notes due 2019 and for general corporate purposes.

Vector Group is engaged in the manufacture and sale of cigarettes in the United States through subsidiaries Liggett Group LLC and Vector Tobacco, as well as real estate operations conducted through New Valley LLC.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.