Affinion roadshowing $325 million five-year notes through next week

By Paul A. Harris

St. Louis, Sept. 22 - Affinion Group Holdings, Inc. is in the market with a $325 million offering of five-year senior notes (expected ratings Caa1/B-), according to market sources.

The deal will be presented on an investor roadshow which is expected to run into the middle of next week.

Deutsche Bank Securities, Bank of America Merrill Lynch and Credit Suisse are the joint bookrunners for the Rule 144A and Regulation S offering.

The notes come with two years of call protection.

Proceeds, together with cash distributions from Affinion Group, Inc., will be used to repay Holdings' senior unsecured term loan and for general corporate purposes.

The issuer is the parent of Affinion Group, a Stamford, Conn.-based provider of marketing services and customer loyalty programs.

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