American Tire wraps up non-deal roadshow, eyes $1 billion minimum bond offering this week

By Paul A. Harris

Portland, Ore., Feb. 16 – On the heels of a non-deal roadshow held during the Feb. 8 week, American Tire Distributors is expected to launch a $1 billion minimum offering of unsecured notes into the market during the Feb. 15 week, according to market sources.

Early yield discussions took place in the 8½% area, a trader said.

Goldman Sachs & Co. LLC is expected to lead the deal.

The Huntersville, N.C.-based tire distribution business, which filed for Chapter 11 bankruptcy protection in October 2018, will use the proceeds to help finance its exit from bankruptcy.

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