France's Picard on roadshow for €480 million six-year floaters

By Paul A. Harris

Portland, Ore., July 23 - France's Picard Group SA is running an investor roadshow for a €480 million offering of six-year floating-rate notes (Ba3/BB-/), according to a market source.

The roadshow is set to wrap up on Friday.

Credit Suisse is the lead bookrunner. BNP Paribas, Goldman Sachs and Morgan Stanley are the joint bookrunners. Natixis and SG CIB are the co-managers.

The notes come with one year of call protection.

The Fontainebleau, France-based frozen food company plans to use the proceeds to repay debt.

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