IAC to start roadshow Friday for $300 million seven-year secured notes

By Paul A. Harris

Portland, Ore., May 19 - Germany's International Automotive Components Group will start a roadshow on Friday for a $300 million offering of seven-year senior secured notes, according to market sources.

The deal is set to price during the May 23 week.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch and J.P. Morgan Securities LLC are leading the Rule 144A for life offering.

The notes come with four years of call protection. However a special call provision will allow the issuer to redeem 10% of the notes annually at 103 during non-call period.

The Krefeld, Germany-based automotive components company plans to use the proceeds to repay debt and fund a distribution to its shareholders.

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