Oldcastle/Oscar AcquisitionCo starts roadshow for $985 million two-part notes offer

By Paul A. Harris

Portland, Ore., April 7 – Oldcastle BuildingEnvelope (Oscar AcquisitionCo LLC) began a roadshow on Thursday for a $985 million two-part offering of high-yield notes, according to market sources.

The Rule 144A deal includes a $400 million tranche of seven-year senior secured notes (B1/B) with initial guidance in the mid-to-high 6% area.

It also includes a $585 million tranche of eight-year senior unsecured notes (Caa1/CCC+) with initial guidance in the mid-to-high 9% area.

The roadshow runs through Wednesday

J.P. Morgan Securities LLC is leading the deal.

The notes in both tranches come with three years of call protection.

Proceeds, plus proceeds from a $1.285 billion term loan, will be used to help fund the buyout of the company by KPS Capital Partners LP from CRH plc.

Oldcastle BuildingEnvelope is a Dallas-based building supplies and services company.

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