High Ridge starts roadshow for $250 million notes, pricing this week

By Paul A. Harris

Portland, Ore., March 13 – High Ridge Brands Co. began a roadshow on Monday for a $250 million offering of eight-year senior notes, according to a market source.

The Rule 144A and Regulation S for life deal is set to price later this week.

BMO Securities is the left bookrunner. HSBC, ING and SG CIB are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon and feature a three-year 40% equity clawback at par plus the coupon. There is a 101% poison put.

The Stamford, Conn.-based personal care products company plans to use the proceeds to repay the bridge loan put in place to partially fund the acquisition of Dr. Fresh LLC and to repay the company’s second lien term loan.

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