ICON to start roadshow Wednesday for $205 million six-year notes

By Paul A. Harris

St. Louis, Sept. 28 - ICON Health & Fitness, Inc. will begin a roadshow on Wednesday for its $205 million offering of six-year senior secured notes (B2/B-), according to an informed source.

The offering is expected to price early in the week ahead.

Bank of America Merrill Lynch and Credit Suisse are the joint bookrunners for the Rule 144A for life offering.

The notes come with three years of call protection and have a 101% poison put.

Proceeds will be used to repay a portion of the company's ABL revolver, to repay its term loan in full and to redeem all of its 11¼% senior subordinated notes.

The prospective issuer is a Logan, Utah-based health and fitness equipment manufacturer.

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