Evertec to start roadshow Thursday for $220 million seven-year notes

By Paul A. Harris

St. Louis, Sept. 15 - Evertec, Inc. will start a roadshow on Thursday for its $220 million offering of seven-year senior notes (expected ratings Caa1/B-), according to an informed source.

The deal is expected to price during the week ahead.

Bank of America Merrill Lynch and Morgan Stanley & Co. are the joint bookrunners for the Rule 144A with registration rights offering.

The notes come with three years of call protection and a 101% poison put.

Proceeds will be used to fund the acquisition of a 51% stake in Evertec by Apollo Group.

Evertec is a San Juan, Puerto Rico-based provider of transaction processing, payment processing, merchant acquiring and other related services in Puerto Rico and certain countries within the Caribbean and Central and Latin America.

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