Houghton Mifflin starts roadshow Wednesday for $650 million two-part note offering

By Paul A. Harris

St. Louis, Jan. 13 - Houghton Mifflin will begin its roadshow for a $650 million two-part Rule 144A offering of notes on Wednesday, according to a syndicate source.

The deal is expected to price by Jan. 24.

Goldman Sachs & Co., CIBC World Markets and Deutsche Bank Securities Inc. are joint bookrunners. Fleet Securities is co-manager.

The offering is comprised of $250 million of senior notes due 2011 and non-callable for four years, and $400 million of senior subordinated notes due 2013 and non-callable for five years.

There is also a $575 million credit facility led by CIBC World Markets.

Proceeds will be used to help fund the purchase of Houghton Mifflin from Vivendi Universal by Thomas H. Lee Partners, Blackstone Group, Bain Capital and Apax Partners.

The issuer is a Boston-based publishing company.

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