Riverdeep $820 million notes for Houghton Mifflin deal expected in February

By Paul A. Harris

St. Louis, Feb. 15 - Riverdeep Interactive Learning USA is expected to launch an $820 million offering of senior subordinated notes before the end of the month, according to a market source.

Credit Suisse and Citigroup will be joint bookrunners.

Proceeds, along with $1.87 billion of senior bank debt, $750 million of mezzanine debt and $1.5 billion of equity, will be used to fund the acquisition of Houghton Mifflin Co. by Riverdeep from Thomas H. Lee Partners, Bain Capital Partners, LLC and Blackstone Group for $3.4 billion, including the assumption of about $1.6 billion of debt.

Riverdeep, based in Dublin, Ireland, is a publisher of interactive products for the consumer and school markets.

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