Esterline plans roadshow for €330 million eight-year senior notes

By Paul A. Harris

Portland, Ore., March 23 – Esterline Corp. plans price a €330 million offering of eight-year senior notes (existing ratings Ba2/BB) at the conclusion of a roadshow scheduled for Tuesday and Wednesday, according to a market source.

Joint bookrunner BofA Merrill Lynch will bill and deliver for the Rule 144A and Regulation S for life offering. Wells Fargo Securities LLC is also a joint bookrunner.

HSBC Securities, MUFG, U.S. Bancorp Investments Inc., Goldman Sachs & Co., KeyBanc and TD Securities are the co-managers.

The notes become callable after three years at par plus 75% of coupon.

The Reston, Va.-based supplier of equipment, technology and services plans to use the proceeds to repay bank debt.

Esterline specializes in avionics and controls, sensors and systems, and advanced materials for the aerospace and defense sectors.

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