Innovia starts roadshow for €340 million six-year floating-rate notes

By Paul A. Harris

Portland, Ore., Feb. 10 - Innovia Group (Finance) plc began a roadshow on Monday in London for its €340 million offering of six-year senior secured floating-rate notes (expected ratings B2/B), according to a market source.

The roadshow continues in London on Tuesday and moves to Frankfurt and Paris on Wednesday.

Joint bookrunner Deutsche Bank will bill and deliver. Barclays and HSBC are also joint bookrunners for the Rule 144A and Regulation S offering.

The notes become callable after one year at 101.

The Wigton, England-based manufacturer of specialty films plans to use the proceeds to refinance debt and to repay shareholder loans.

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