Blue Yonder to sell $500 million 5.5-year secured notes on Thursday; initial talk 5%-5¼%

By Paul A. Harris

Portland, Ore., July 22 – Blue Yonder plans to shop a $500 million offering of 5.5-year senior secured notes on a Wednesday and Thursday roadshow, according to market sources.

Initial guidance has the deal coming to yield 5% to 5¼%, a bond trader said.

The deal was set to kick off on a Wednesday conference call with investors.

The Rule 144A and Regulation S for life offering is set to price on Thursday.

Goldman Sachs & Co. LLC is the left bookrunner. BofA Securities Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are the joint bookrunners. Blackstone Group is the co-manager.

The notes, which become callable after two years at par plus 50% of the coupon, are to be issued by BY Crown Parent, LLC and its wholly owned subsidiary BY Finance, Inc.

The Scottsdale, Ariz.-based software and consultancy company, formerly JDA Software Group, plans to use the proceeds to repay approximately $400 million of term loan debt and approximately $35 million of revolver debt, with any remaining proceeds to be used for general corporate purposes, which may include additional debt repayment, potential acquisitions and other purposes.

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