Symantec starts roadshow for $1 billion eight-year notes backing LifeLock acquisition

By Paul A. Harris

Portland, Ore., Feb. 2 – Symantec Corp. began a roadshow on Thursday for a $1 billion offering of eight-year senior notes, according to a market source.

The deal, which is expected to come with speculative-grade credit ratings, is set to price in the week ahead.

BofA Merrill Lynch is leading the Rule 144A and Regulation S offering.

The notes come with three years of call protection.

Symantec plans to use the proceeds, along with cash on hand, to finance the $2.3 billion cash purchase price of LifeLock, a Tempe, Ariz.-based identity theft protection services provider.

Symantec is a Mountain View, Calif.-based technology company.

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