Rexnord to launch $225 million 10-year notes Thursday

By Paul A. Harris

St. Louis, Mo., Nov. 4 - The roadshow starts Thursday for Rexnord Corp.'s offering of $225 million of senior subordinated notes due 2012 (B3/B-), according to a syndicate source. The roadshow will conclude Nov. 20.

The syndicate is comprised of Credit Suisse First Boston and Deutsche Bank Securities Inc.

The Rule 144A notes are non-callable for five years. The deal is coming alongside a $435 million credit facility.

Proceeds will be used to help fund the leveraged buyout of Rexnord from Invensys plc by The Carlyle Group.

The company is a Milwaukee-based manufacturer of industrial conveying equipment.

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