Aventiv details $400 million offering of four-year secured notes; pricing this week

By Paul A. Harris

Portland, Ore., May 3 – Aventiv Technologies LLC is expected to price a $400 million offering of four-year first-lien senior secured notes (B3/B) before the end of the week, according to market sources.

The Rule 144A and Regulation S for life notes offering was scheduled to officially kick off on a Wednesday morning conference call with investors.

The notes become callable after 1.5 years at par plus 50% of the coupon.

Deutsche Bank Securities Inc. is the left bookrunner. BofA Securities Inc., PNC Capital Markets LLC, Stifel Nicolaus & Co. Inc., Jefferies LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp. and Credit Suisse Securities (USA) LLC are joint bookrunners.

The Dallas-based supplier of communications and other services to corrections and government services sectors plans to use the proceeds plus proceeds from a $700 million term loan B to refinance debt.

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