Kamps starts roadshow for 300 million euros seven-year notes Thursday

By Paul A. Harris

St. Louis, Mo., Jan. 29 - Kamps AG will begin a roadshow for its offering of €300 million senior unsecured notes due 2009 on Thursday, according to a syndicate source.

The deal is expected to price Feb. 11, the source said.

As previously reported, Kamps' Rule 144A offering is via bookrunner J.P. Morgan and joint lead BNP Paribas.

The notes are non-callable for four years and contain an equity clawback of 35% for three years.

The Dusseldorf, Germany-based baking firm will use the proceed to repay indebtedness, according the source, who added the new Kamps notes will rank pari passu to the company's existing 8% notes due 2006.

Standard & Poor's rates the debt BB- and a Moody's Investors Service rating is expected Feb. 4.

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