White Cap Buyer starts roadshow for $650 million eight-year notes; initial talk mid-to-high 7% area

By Paul A. Harris

Portland, Ore., Oct. 5 – White Cap Buyer LLC started a roadshow on Monday for a $640 million offering of eight-year senior notes (Caa1/CCC+), according to market sources.

Initial talk has the deal coming to yield in the mid-to-high 7% area, a trader said.

The roadshow runs through Wednesday.

Deutsch Bank Securities Inc. is leading the deal.

The notes come with three years of call protection.

Proceeds will be used to support the acquisition of HD Supply Inc.’s Construction and Industrial business, which operates as White Cap, by Clayton, Dubilier & Rice.

White Cap is a Norcross, Ga.-based industrial distributor of specialty construction products.

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