American Tire Distributors to launch $330 million two-part note offering Tuesday

By Paul A. Harris

St. Louis, March 7 - American Tire Distributors Inc. will launch its $330 million offering of high-yield notes in two tranches in a roadshow running Tuesday through March 17, according to a syndicate source.

The Charlotte, N.C., independent wholesale tire supplier plans to sell $130 million of seven-year floating-rate notes, which will be non-callable for two years, and $200 million 10-year senior subordinated fixed-rate notes, non-callable for five years.

Banc of America Securities LLC will run the books for the Rule 144A offering. The co-managers will be Credit Suisse First Boston and Wachovia Securities.

Proceeds will be used to help finance the sale of American Tire Distributors Inc. to Investcorp.

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