Hughes Communications starts roadshow for $375 million eight-year notes

By Paul A. Harris

St. Louis, March 29 - A roadshow started Wednesday for Hughes Network Systems LLC's $375 million offering of eight-year senior notes (B1/B-), according to an informed source.

The roadshow is expected to conclude on April 5.

Bear Stearns & Co. and Morgan Stanley are joint bookrunners for the notes, which are being offered via Rule 144A with registration rights. Banc of America Securities is a co-manager.

The notes come with four years of call protection and a three-year 35% equity clawback.

Proceeds will be used to refinance existing debt and for general corporate purposes.

The prospective issuer is a provider of broadband satellite networks and services. The company is based in Germantown, Md.

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