France's Kaufman & Broad starts roadshow for €370 million notes

By Paul A. Harris

Portland, Ore., March 20 - France-based real estate developer Kaufman & Broad began a roadshow on Thursday in London for a €370 million offering of five-year senior notes, according to a market source.

The roadshow continues in London on Friday, then moves to Paris on Monday, and to Frankfurt and Amsterdam on Tuesday.

Joint global coordinator and physical bookrunner Goldman Sachs International will bill and deliver for the Rule 144A and Regulation S deal. Credit Suisse and Credit Agricole CIB are also joint global coordinators and physical bookrunners. Natixis is a bookrunner. Banco Sabadell is the manager.

The notes come with two years of call protection.

Proceeds will be used to repay debt, repurchase preferred shares and for general corporate purposes.

The issuing entity will be Financiere Gaillon 8 SA, the parent of Neuilly-sur-Seine, France-based Kaufman & Broad.

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