Iesy Repository to start roadshow Monday for €525 million equivalent 10-year note offering

By Reshmi Basu and Paul A. Harris

St. Louis, April 14 - German cable operator Iesy Repository GmbH will begin a roadshow Monday in New York City for its €525 million equivalent offering of 10-year senior notes in dollar and euro tranches (existing ratings Caa1/CCC+), according to a market source.

Tranche sizes remain to be determined.

The notes will be non-callable for five years.

A roadshow will follow in London beginning on April 25, with pricing expected late in the same week.

Citigroup, Deutsche Bank Securities and JP Morgan will be joint bookrunners for the Rule 144A/Regulation S offering.

Proceeds will be used to fund the acquisition of German cable operator Ish and to refinance debt.

Prior to privatization both companies had been owned by Deutsche Telekom.

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