VWR to start roadshow Monday for $675 million eight-year senior notes

By Paul A. Harris

St. Louis, June 12 - Varietal Distribution Merger Sub, Inc. (VWR International, Inc.) will begin a roadshow on Monday for its $675 million offering of eight-year senior PIK toggle notes (Caa1/CCC+), according to an informed source.

The Rule 144A/Regulation S with registration rights notes offering is expected to price during the June 25 week.

Goldman Sachs & Co., Banc of America Securities, JP Morgan and Deutsche Bank Securities are joint bookrunners.

The notes will come with four years of call protection.

Proceeds will be used to redeem existing debt and finance the acquisition of CDRV Investors, Inc., the parent of VWR, by Madison Dearborn Partners.

Upon completion of the acquisition Varietal Merger Sub will be merged with and into CDRV Investors, and CDRV Investors will assume the obligations under the notes.

VWR is a West Chester, Pa., provider of laboratory equipment to the pharmaceutical, biotechnology, chemical and other industries.

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