ContourGlobal starts roadshow for $400 million five-year notes

By Paul A. Harris

Portland, Ore., May 5 - ContourGlobal Power Holdings SA began a roadshow on Monday for a $400 million offering of five-year senior secured notes (expected ratings B3/BB-), according to a market source.

The roadshow wraps up on Friday, and the deal is set to price on May 12.

Goldman Sachs & Co. is the bookrunner for the Rule 144A and Regulation S offering.

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

The New York-based operator of power generating stations plans to use the proceeds to repay debt, to fund acquisitions and development projects and for general corporate purposes.

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