Mavis Tire sets Tuesday afternoon investor call for $720 million eight-year notes offering

By Paul A. Harris

Portland, Ore., April 26 – Mavis Tire Express Services scheduled an investor conference call at 3 p.m. ET on Tuesday to kick off a $720 million offering of eight-year senior notes, according to a syndicate source.

A telephone roadshow runs from Tuesday through Thursday, and the deal is set to price at the end of the April 26 week.

Jefferies LLC, Apollo Global Securities LLC, BofA Securities Inc., KKR Capital Markets LLC and Stifel Nicolaus & Co. Inc. are the bookrunners.

The Rule 144A and Regulation S for life notes come with three years of call protection.

Proceeds will be used to fund the leveraged buyout of Mavis Tire, a Millwood, N.Y.-based tire retailer and automotive aftermarket service provider, by an investor group led by BayPine LP, in partnership with TSG Consumer Partners LP.

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