VeriSign starts roadshow for $600 million split-rated 10-year notes

By Paul A. Harris

Portland, Ore., April 8 - VeriSign, Inc. began a roadshow on Monday for a $600 million offering of split-rated 10-year senior notes (expected ratings Baa3/BB), according to a market source.

The deal is set to price late this week.

J.P. Morgan Securities LLC and BofA Merrill Lynch are the joint bookrunners.

U.S. Bancorp and BB&T Securities are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with five years of call protection.

The internet infrastructure services provider plans to use the proceeds for general corporate purposes, as well as to repay its revolving credit facility and repurchase shares.

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