VNU unveils structure for $1.67 billion equivalent note offering

By Paul A. Harris

St. Louis, July 10 - Netherlands-based market research company VNU NV took the wraps off of its $1.67 billion equivalent of proposed junk bonds in a Monday news release.

Planning in both dollar and euro denominations, the company is offering eight-year senior notes and 10-year senior subordinated notes.

Deutsche Bank Securities, JP Morgan, Citigroup, ABN Amro and ING are joint bookrunners, according to a market source, who added that the deal could launch as early as Tuesday.

The company will also put in place a €4.89 billion credit facility.

Proceeds will be used to partially fund the €7.6 billion acquisition of VNU by Valcon Acquisition BV, a group of investors that includes Kohlberg Kravis Roberts & Co. and Carlyle Group.

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