Adesa to start roadshow Thursday for $125 million eight-year notes

By Paul A. Harris

St. Louis, June 1 - Adesa Inc. will hold a roadshow Thursday through June 15 for its public offering of $125 million of eight-year senior subordinated notes (B1/B+), according to a syndicate source.

UBS Investment Bank and Merrill Lynch & Co. are the bookrunners. ABN Amro, Banc One Capital Markets, Harris Nesbitt, BNP Paribas, Piper Jaffray and Wells Fargo Securities are co-managers.

The notes will come with four years of call protection.

The company will also conduct a 6.25 million share initial public offering at $23 to $25 per share.

Proceeds will be used to repay debt.

The company is a Carmel, Ind., operator of used vehicle and auto salvage auctions and vehicle redistribution services.

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