EnPro Industries starts roadshow for $300 million eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 8 – EnPro Industries, Inc. began a roadshow on Monday for a $300 million offering of eight-year senior notes (B1/BB-/), according to a market source.

The roadshow wraps up on Thursday, and the Rule 144A and Regulation S with registration rights deal is set to price late this week.

BofA Merrill Lynch, KeyBanc Capital Markets and Fifth Third Bank are the joint bookrunners.

The notes come with three years of call protection.

The Charlotte, N.C.-based manufacturer of engineered products plans to use the proceeds to repay its revolver, including the $74.78 million drawn to fund the tender for its 3.9375% convertible senior debentures due 2015.

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