Rainbow Media to start roadshow Tuesday for $800 million two-part bond offering

By Paul A. Harris

St. Louis, Aug. 2 - Rainbow Media Enterprises will start a roadshow Tuesday for $800 million of fixed-rate high-yield bonds in two tranches, according to a syndicate source.

Pricing is expected during the week of Aug. 9.

The company, a subsidiary of Cablevision, plans to sell $250 million of eight-year senior notes, which are non-callable for four years, and $550 million of 10-year senior subordinated notes, non-callable for five years.

Banc of America Securities LLC, Bear Stearns & Co., Credit Suisse First Boston and JP Morgan are the bookrunners for the planned Rule 144A for life issues.

Proceeds will be used to repay debt and fund a distribution to the parent company.

Jericho, N.Y.-based Rainbow Media Enterprises owns American Movie Classics, The Independent Film Channel and Women's Entertainment (WE).

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