Rexnord to start roadshow Thursday for $840 million two part note offering

By Paul A. Harris

St. Louis, July 5 - Rexnord Corp. will begin a roadshow on Thursday for its $840 million two-part note offering, according to an informed source.

The company plans to offer a $420 million tranche of eight-year senior notes with four years of call protection (B3/CCC+) and a $420 million tranche of 10-year senior subordinated notes with five years of call protection (Caa1/CCC+).

Credit Suisse, Merrill Lynch & Co., Bear Stearns and Lehman Brothers will be joint bookrunners for the notes, which will be marketed via Rule 144A with registration rights.

Proceeds will be used to partially fund the acquisition of Rexnord by Apollo Management and its affiliates.

Rexnord is a Milwaukee-based manufacturer of power transmission, aerospace and specialty components, products and systems.

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