Wolverine to start roadshow Tuesday for $375 million eight-year notes

By Paul A. Harris

Portland, Ore., Sept. 24 - Wolverine World Wide, Inc. plans to start a roadshow on Tuesday for a $375 million offering of eight-year senior notes (expected ratings B2/B+), according to a market source.

The deal is expected to price on Friday.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the joint bookrunners. Fifth Third and PNC Capital Markets are the co-managers.

The Rule 144A and Regulation S with registration rights notes come with four years of call protection.

The Rockford, Mich.-based marketer of branded footwear and apparel plans to use the proceeds to finance the acquisition of Collective Brands Inc., to repay and terminate Wolverine's existing credit facility and to repay some Collective Brands debt.

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