Albea Beauty starts roadshow for $650 million equivalent seven-year senior secured notes

By Paul A. Harris

Portland, Ore., Oct. 9 - Albea Beauty Holdings SA began a roadshow on Monday in Europe for a $650 million equivalent offering of seven-year senior secured notes (expected ratings B2/B+), according to a syndicate source.

The European roadshow wraps up on Thursday.

A roadshow begins on Friday in the United States, and wraps up on Oct. 17.

The notes are being offered in dollar- and euro-denominated tranches. The sizes of those tranches remain to be determined.

Joint physical bookrunner Bank of America Merrill Lynch will bill and deliver for the dollar notes. JPMorgan, also a joint physical bookrunner, will bill and deliver for the euro-denominated notes. Barclays is the joint bookrunner.

BMO, BNP Paribas and SG CIB are the co-managers.

The Rule 144A for life and Regulation S notes come with three years of call protection and feature a 101% poison put.

Upon the release from escrow, the proceeds will be used to fund the acquisition of Rexam PC, as well as to refinance debt and for general corporate purposes.

Albea Beauty is a France-based producer of plastic packaging used by the cosmetics industry.

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