Scotland's KCA Deutag intends to start roadshow Tuesday for $500 million eight-year senior notes

By Paul A. Harris

St. Louis, July 26 - Turbo Beta plc, the owner of Scotland-based oil and gas services company KCA Deutag, will start a European roadshow on Tuesday for its $500 million offering of eight-year senior unsecured notes (Caa2/CCC), according to an informed source.

The European roadshow wraps up on Wednesday.

A roadshow in the United States is scheduled to start on Thursday and to wrap up on Aug. 4.

Goldman Sachs & Co. is the global coordinator for the Rule 144A and Regulation S offering.

HSBC, Lloyds TSB and Royal Bank of Scotland are the joint bookrunners.

Natixis Bleichroeder is the co-manager.

The notes come with four years of call protection.

Proceeds, together with an equity injection from shareholders, will be used to refinance debt.

The company is based in Aberdeen, Scotland.

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