Johnson Diversey starts roadshow Thursday for $500 million dollar/euro 10-year note offering

By Paul A. Harris

St. Louis, Mo., April 5 - Johnson Diversey will start the roadshow Thursday for a two-tranche offering of approximately $500 million 10-year senior subordinated notes (B2/B), with one tranche in denominated in U.S. dollars and the other in euros, according to a market source.

Pricing is expected on April 25 or 26.

Goldman Sachs & Co. is the bookrunner.

Tranche sizes have yet to be determined, however the market source indicated that the dollar tranche is expected to exceed the euro tranche in size.

The notes will be non-callable for five years, according to the source.

Proceeds will be used to fund the acquisition of Unilever's DiverseyLever business by S.C. Johnson, a Racine, Wis. manufacturer of commercial and home cleaning, personal care and home pest control products.

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