Rexel starts U.S. roadshow for €600 million equivalent 10-year notes via JP Morgan

By Paul A. Harris

St. Louis, March 2 - Rexel SA began its roadshow Wednesday in New York for a €600 million equivalent offering of 10-year senior subordinated notes, which will be issued in dollar and euro tranches, according to an informed source.

Tranche sizes remain to be determined.

The notes will be non-callable for five years.

The roadshow moves to Europe on Monday. The offering is expected to price on March 10.

JP Morgan has the physical books. The joint bookrunners are HSBC Group, Merrill Lynch & Co., Morgan Stanley and The Royal Bank of Scotland.

Proceeds will be used to fund the acquisition of the company by Clayton, Dubilier & Rice Inc. and others.

Rexel is a Paris-based electrical equipment supplier.

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