CPI Card markets $310 million five-year secured notes; investor call Thursday afternoon

By Paul A. Harris

Portland, Ore., Feb. 25 – CPI Card Group scheduled an investor conference call starting at 2:30 p.m. ET on Thursday to roll out a $310 million offering of five-year senior secured notes to investors, according to market sources.

The Rule 144A for life private placement is set to price early in the March 1 week.

Initial guidance is in the 9¼% area, a trader said.

Jefferies LLC has the books.

The notes come with two years of call protection.

The issuing entity will be CPI CG Inc., a wholly owned subsidiary of CPI Card Group.

The Littleton, Colo.-based provider of payment technology plans to use the proceeds to refinance debt.

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