Alliance One plans to start roadshow Friday for $790 million eight-year secured notes

By Paul A. Harris

Portland, Ore., July 18 - Alliance One International, Inc. plans to start a roadshow on Friday for a $790 million offering of eight-year senior secured second-lien notes, according to a market source.

The Rule 144A and Regulation S deal is expected to price late in the week ahead.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, ICBC, ING, Natixis Securities and Standard Chartered Bank are managing the sale.

The notes come with four year of call protection.

The Morrisville, N.C.-based leaf tobacco merchant plans to use the proceeds to fund the redemption of $635 million of its 10% senior notes due 2016 and any and all of $115 million of its 5½% convertible senior subordinated notes due 2014.

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