Norway’s Lindorff plans roadshow for €1.45 billion equivalent four-part notes offering

By Paul A. Harris

Portland, Ore., July 28 – Norway’s Lindorff Group plans to start a roadshow on Tuesday for a €1.45 billion equivalent four-part offering of notes, according to a market source.

The roadshow wraps up on Aug. 4, and the deal is set to price thereafter.

The deal features the following tranches:

• €550 million seven-year senior secured fixed-rate notes (expected ratings B2/BB-), which are non-callable for three years;

• NOK 200 million six-year senior secured floating-rate notes (expected ratings B2/BB-), which are non-callable for three years;

• €250 million six-year senior secured floating-rate notes (expected ratings B2/BB-), which are non-callable for one year; and

• €450 million eight-year senior unsecured fixed-rate notes (expected ratings Caa1/B-), which are non-callable for four years.

Goldman Sachs International is the global coordinator and physical bookrunner. Nordea is physical bookrunner on krone-denominated notes and a joint bookrunner. Deutsche Bank is a joint bookrunner.

The euro-denominated tranches are in the market via Rule 144A and Regulation S. The krone-denominated tranche is formatted as Regulation S only.

Proceeds will be used to fund the acquisition of the Oslo-based provider of financial information and services by Nordic Capital Fund VIII.

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