Armor Holdco starts roadshow for $350 million eight-year notes; initial talk high 7% area-8%

By Paul A. Harris

Portland, Ore., Oct. 25 – Armor Holdco, Inc. started a roadshow on Monday for a $350 million offering of eight-year senior notes supporting the combination of Equiniti Group and AST by sponsor Siris Capital, according to market sources.

Initial talk has the notes coming to yield in the high 7% area to 8%, a trader said.

The deal, which was set to kick off on a Monday conference call with investors, will be marketed on a roadshow through Thursday.

Goldman Sachs is the left bookrunner. BofA, Deutsche Bank and Lloyds are the joint bookrunners.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

Proceeds will be used to support the combination of Equiniti and AST.

Equiniti is a provider of mission-critical shareholder, pension, remediation and credit technology in the United States and the United Kingdom. AST is a provider of mission-critical shareholder technology in the United States.

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