Alliance Laundry to start roadshow Tuesday for $150 million eight-year notes

By Paul A. Harris

St. Louis, Jan. 7 - Alliance Laundry Systems LLC is set to hold a roadshow Jan. 11 to Jan. 19 for its $150 million offering of eight-year senior subordinated notes (B3/CCC+), according to a market source.

The notes are expected to price on Jan. 20.

Lehman Brothers has the books for the Rule 144A offering.

The company will also obtain a $250 million credit facility.

Proceeds will be used to fund the acquisition of Alliance Laundry by Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan Board, from Bain Capital LLC, and to repay about $280 million of Alliance Laundry's outstanding debt, including the $110 million 9 5/8% senior subordinated notes, and the mandatorily redeemable preferred interests.

Alliance Laundry is a Ripon, Wis.-based designer, manufacturer and marketer of commercial laundry equipment used in laundromats, multi-housing laundries and on-premise laundries.

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