Ideal Standard starts roadshow for €250 million seven-year notes

By Paul A. Harris

Portland, Ore., April 13 - Belgium's Ideal Standard International SA began a roadshow on Wednesday in Paris for a €250 million offering of seven-year senior secured notes (expected ratings Caa1//B+), according to market sources.

The deal moves on to London for a Thursday breakfast in the city and a Friday breakfast on the West End.

On Monday the deal will be presented at a breakfast in Frankfurt, after which it moves on to Amsterdam for a Monday afternoon group meeting.

Goldman Sachs International and Deutsche Bank are the joint bookrunners.

The notes, which feature standard high-yield covenants, come with three years of call protection.

Proceeds will be used to refinance debt.

The prospective issuer is a designer and manufacturer of residential plumbing fixtures and is based in Brussels, Belgium.

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