Harbinger to start roadshow Tuesday for $650 million seven-year notes

By Paul A. Harris

Portland, Ore., Dec. 10 - Harbinger Group Inc. plans to start a roadshow on Tuesday for a $650 million offering of seven-year senior secured notes (B3/B), according to an informed source.

The deal is set to price on Friday.

Deutsche Bank Securities Inc., Jefferies & Co. and Macquarie are the joint bookrunners.

The Rule 144A with registration rights notes become callable in three years at par plus 75% of the coupon. The notes feature a three-year 35% equity clawback and a 101% poison put.

The New York-based diversified holding company plans to use the proceeds to refinance its existing secured notes and put cash on the balance sheet.

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