InterGen's $800 million equivalent offering of secured notes is early June business

By Paul A. Harris

Portland, Ore., May 22 - InterGen NV plans to price an $800 million equivalent dual-currency offering of senior secured notes in early June, according to a market source.

The deal is coming in tranches of sterling-denominated eight-year notes, which come with four years of call protection, and dollar-denominated 10-year notes, which come with five years of call protection.

A European roadshow gets underway on May 28.

Deutsche Bank is the global coordinator. Barclays, BofA Merrill Lynch, Credit Suisse, Mitsubishi UFJ Securities and RBC are the joint bookrunners. Citigroup is the co-manager.

Proceeds along with new bank debt will be used to fund the tender offer for the company's 9½% senior secured notes due 2017, its 9% senior secured notes due 2017 and its 8½% senior secured notes due 2017, as well as to repay bank debt and for general corporate purposes.

InterGen is a Burlington, Mass.-based power generator.

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