Harland Clarke plans to start roadshow Monday for $295 million seven-year secured notes

By Paul A. Harris

Portland, Ore., May 11 - Harland Clarke Holdings Corp. plans to start a roadshow on Monday for a $295 million offering of seven-year senior secured notes, according to a syndicate source.

The deal is set to price late in the May 14 week.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch, Deutsche Bank Securities Inc., Jefferies & Co. Inc., UBS Securities and Natixis are the joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after three years at par plus 75% of the coupon. They feature a three-year 35% equity clawback and 101% poison put.

Proceeds will be used to repay debt.

Harland Clarke is a San Antonio-based provider of integrated payment, marketing and security services and retail products.

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