House of Fraser plans to start roadshow Thursday for £250 million seven-year secured notes

By Paul A. Harris

Portland, Ore., May 18 - English department store group House of Fraser will begin a brief roadshow on Thursday in London for a £250 million offering of seven-year senior secured notes (expected ratings B2/B+), according to an informed source.

Friday roadshow presentations will be made in London and Edinburgh. On Monday the deal will be presented in Paris.

Barclays and Deutsche Bank AG are global coordinators and joint bookrunners. HSBC and Lloyds TSB are joint bookrunners.

The Rule 144A and Regulation S notes, which are being issued by House of Fraser (Funding) plc, come with three years of call protection and feature a 101% poison put.

The London-based company plans to use the proceeds to refinance bank debt and for general corporate purposes.

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