American Tire Distributors starts roadshow for $250 million seven-year second-lien notes

By Paul A. Harris

St. Louis, May 17 - American Tire Distributors, Inc. began a roadshow on Monday for its $250 million offering of seven-year second-lien notes, according to an informed source.

The deal is set to price during the middle part of the present week.

Bank of America Merrill Lynch, Barclays Capital Inc., RBC Capital Markets Corp. and UBS Investment Bank are the joint bookrunners for the Rule 144A with registration rights offering.

The notes will become callable in three years at par plus ¾ of the coupon. They also feature a 101% poison put.

Credit ratings remain to be determined.

Proceeds will be used to help fund the acquisition of the company by TPG Capital.

American Tire is a Charlotte, N.C.-based distributor of replacement tires.

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