Reader's Digest to start roadshow Thursday for $300 million seven-year notes

By Paul A. Harris

St. Louis, Feb. 18 - The Reader's Digest Association Inc. will start a roadshow Thursday for a $300 million offering of seven-year senior notes (Ba3), a market source said.

The deal is expected to price on Feb. 27.

JP Morgan will run the books on the Rule 144A/Regulation S offering.

The notes will come with four years of call protection.

Proceeds will be used to repay bank debt.

The Pleasantville, N.Y.-based company publishes Reader's Digest.

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