Allfunds roadshows €575 million PIK toggle notes backing LBO

By Paul A. Harris

Portland, Ore., July 24 – Allfunds Bank started a roadshow on Monday for a €575 million offering of seven-year PIK toggle notes (expected ratings Ba2/BB-), according to a market source.

The roadshow wraps up on Thursday.

Goldman Sachs is leading the sale.

The notes come with three years of call protection.

Proceeds will be used to help fund the buyout of the Madrid, Spain-based provider of business-to-business services to financial institutions by Hellman & Friedman from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warburg Pincus.

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