Scan Global Logistics on roadshow for $765 million equivalent notes; initial talk 10½%-11%

By Paul A. Harris

Portland, Ore., Feb. 6 – Skill BidCo ApS started a roadshow on Monday for a $765 million equivalent offering of five-year senior secured notes (B/B+) backing the buyout of Denmark-based Scan Global Logistics by CVC Capital Partners.

Initial guidance is in the 10½% to 11% context, according to a sellside source in New York.

The deal is expected to price during the Feb. 13 week.

The notes are being offered in dollar-denominated and euro-denominated tranches, with tranche sizes to be determined.

Pareto Securities is leading the notes offering.

The notes come with two years of call protection.

Proceeds plus sponsor equity will be used to help fund the buyout of the Copenhagen-based freight logistics company by CVC Capital Partners.

There is no committed financing for the buyout, which hinges on the successful placement of the notes, market sources say.

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