Telcordia Technologies starts roadshow for $350 million eight-year notes

By Paul A. Harris

St. Louis, Feb. 16 - Telcordia Technologies Inc. kicked off a Feb. 16-25 roadshow for its $350 million offering of eight-year senior subordinated notes (expected B3/confirmed B-) on Wednesday, according to market sources.

The Piscataway, N.J.-based provider of telecommunications software will make presentations in California on Friday, in Boston on Feb. 23 and in New York on Feb. 24.

Pricing is expected on Feb. 28.

The notes will be non-callable for three years.

JP Morgan, Bear Stearns & Co., Deutsche Bank Securities and Lehman Brothers are joint bookrunners for the Rule 144A offering.

The notes will have registration rights upon completion of an initial public offering.

Proceeds will be used to help fund the leveraged buyout of the company by Warburg Pincus and Providence Equity Partners.

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