England's Arqiva Broadcast starts roadshow for £600 million equivalent seven-year notes

By Paul A. Harris

Portland, Ore., Feb. 12 - England's Arqiva Broadcast Finance plc began a roadshow on Tuesday in the United States for its £600 million equivalent offering of seven-year senior notes, which it intends to issue in dollar-denominated and sterling-denominated tranches, according to a market source.

The U.S. roadshow wraps up on Friday.

A roadshow begins in Europe on Thursday and is scheduled to conclude on Feb. 19.

Deutsche Bank, J.P. Morgan Securities LLC and Royal Bank of Scotland are the physical bookrunners. JPMorgan will bill and deliver for the dollar-denominated notes, while Royal Bank of Scotland will bill and deliver for the sterling-denominated notes.

BofA Merrill Lynch, Barclays, HSBC, Lloyds TSB and UBS are joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection.

Credit ratings remain to be determined.

Proceeds will be used to refinance bank debt.

Arqiva is a Winchester, England-based provider of broadcast infrastructure.

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