Refco starts roadshow for $600 million sale of eight-year subordinated notes on Wednesday

By Paul Deckelman

New York, July 12 - Refco Finance Holdings will start a roadshow Wednesday to market an offering of $600 million of eight year senior subordinated notes to help fund the acquisition of the New York-based financial services company, high-yield syndicate sources said.

Pricing for the proposed Rule 144A issue is expected late the following week.

It will be brought to market via joint bookrunners Credit Suisse First Boston, Banc of America Securities and Deutsche Bank Securities.

The bonds will be non-callable for the first four years after issue.

Proceeds of the bond deal - and an $875 million credit facility that launched Monday - will be used, along with cash on hand, to fund the proposed acquisition of a controlling 57% stake in Refco - a leading independent provider of execution and clearing services for exchange-traded derivatives - by Thomas H. Lee Partners.

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