Germany's ATU starts roadshow for €450 million notes due April 2014

By Paul A. Harris

St. Louis, Sept. 27 - Germany's A.T.U Auto-Teile-Unger Handels GmbH & Co. KG began a roadshow on Monday for its €450 million offering of 3.5-year senior unsecured notes (B3/B-), according to market sources.

The roadshow wraps up on Thursday.

The initial guidance has the yield coming in the 10% to 11% range.

Goldman Sachs & Co. and Morgan Stanley are managing the sale.

Proceeds will be used to refinance debt.

The prospective issuer is a car and truck repair service franchisee.

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