Targus to sell $150 million eight-year notes via Goldman Sachs, UBS

By Paul A. Harris

St. Louis, Oct. 25 - Targus Group International Inc. is expected to launch its $150 million offering of eight-year senior subordinated notes (B3/CCC+) in the next two weeks, an informed source said Tuesday.

Goldman Sachs & Co. and UBS Investment Bank are joint bookrunners for the Rule 144A/Regulation S with registration rights offering.

The notes will come with four years of call protection.

Proceeds will be used to support Fenway Partners Inc.'s leveraged buyout of Targus from Apax Partners LP for $382.5 million.

A bank meeting was held Tuesday for the company's $205 million credit facility.

Targus is an Anaheim, Calif., supplier of mobile computing cases and accessories.

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