Glentel to start roadshow Wednesday in Toronto for C$200 million five-year senior notes

By Paul A. Harris

Portland, Ore., Aug. 28 – Glentel Inc. plans to begin a roadshow on Wednesday in Toronto for its C$200 million offering of five-year senior notes (/BB-//DBRS: BB (low)), according to an informed source.

The roadshow continues in Toronto on Thursday and Friday and moves to Vancouver, B.C., on Sept. 8.

BMO Nesbitt Burns Inc. and CIBC World Markets Inc. are joint bookrunners for the Rule 144A and Regulation S offer. Scotia Capital Inc. and Canaccord Genuity Corp. are the co-managers.

The notes become callable after two years at par plus 50% of the coupon and feature a 101% poison put.

Proceeds will be used to repay bank debt, as well as to extinguish an interest rate swap and for general corporate purposes.

Glentel is a Burnaby, B.C.-based provider of wireless telecommunications systems and hardware, rental equipment, and system implementation services.

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